Economy
NASD Exchange Extends Rally With 1.3% Growth
By Adedapo Adesanya
For the second trading day, the NASD Over-the-Counter (OTC) Securities Exchange recorded growth, this time, it was spurred by an appreciation in the equities of FrieslandCampina WAMCO Nigeria Plc.
The performance of the milk maker contributed to the 1.3 per cent gained by the unlisted securities market at the close of business on Thursday, January 7.
Consequently, the NASD Unlisted Security Index (NSI) increased by 9.62 points when activities were wrapped up at the session, ending at 752.34 points as against the 742.72 points it finished a day earlier.
In the same vein, the milk-producing company energised the market capitalisation of the bourse by N6.9 billion to finish at N539.81 billion in contrast to N532.91 billion it ended on Wednesday.
According to data from the exchange, FrieslandCampina WAMCO Nigeria Plc gained N8 or 6.2 per cent to close at N138 per share versus N130 per share of the previous day.
However, FrieslandCampina WAMCO Nigeria was not the only price mover as Niger Delta Exploration and Production (NDEP) Plc ended on the other side of the divide, losing N5 in value to close at N350 per share compared with N355 per share of the previous day.
Business Post reports that there was an improvement in the trading volume at the unlisted securities market yesterday as a total of 48,000 stocks were traded at the session, 317.4 per cent higher than the 11,500 units traded at the preceding day.
Similarly, the value of securities traded by investors at the fourth session of the week rose to N9.6 million, a whopping 1,569.1 per cent more than the previous session’s N574,000.
There was also a rise in the number of deals made on Thursday as seven deals were executed on shares of three companies; FrieslandCampina (five deals), NDEP Plc (one deal) and Nipco Plc (one deal).
Furthermore, on the activity chart, Central Securities Clearing Systems (CSCS) Plc with 45,890 units worth N724,268 has the highest trading volume on a year-to-date basis. It was followed by FrieslandCampina WAMCO Plc which has sold 31,000 units worth N4.2 million, and NDEP Plc, which has traded 26,650 units worth N9.4 million, while Nipco Plc stood in fourth place with 2,500 units traded for N170, 000.
NDEP Plc took the top position in terms of value by year-to-date with 26,650 units worth N9.4 million. FrieslandCampina WAMCO Plc, which has sold 31,000 units worth N4.2 million, followed in second place. CSCS Plc came next with 45,890 units of its stocks worth N724, 268 while Nipco Plc has traded 2,500 units for N170,000.
Economy
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Economy
OTC Exchange Begins Week With 0.39% Loss
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.39 per cent on Monday, January 12, after it closed higher in every trading day of last week.
The loss recorded yesterday took out N8.5 billion from the unlisted securities market, closing at N2.184 compared with the preceding session’s closing value of N2.193 trillion.
In the same vein, the NASD Unlisted Security Index (NSI) went down by 14.2 points during the session to 3,651.48 points from the 3,665.68 points it finished last Friday.
The decline was influenced by three securities, with Afriland Properties Plc down by N1.55 to end at N14.75 per unit compared with the previous N16.30 per unit, and NASD Plc declining by N1.00 to N59.00 per share from N6.00 pr share, as Food Concepts Plc slid by 34 Kobo to finish at N3.06 per unit versus N3.40 per unit.
On the flip side, three securities gained weight, with FrieslandCampina Wamco Nigeria Plc appreciating by N6.23 to N68.70 per share from N62.47 per share, Central Securities Clearing System (CSCS) Plc added 45 Kobo to close at N43.07 per unit versus N42.62 per unit, and Geo-Fluids Plc gained 2 Kobo to settle at N6.84 per share versus N6.82 per share.
During the session, the trading volume soared by 826 per cent to 4.03 million units from 434,845 units, the trading value skyrocketed by 579.1 per cent to N46.8 million from N6.9 million, and the number of deals jumped by 118.2 per cent to 48 deals from 22 deals.
When trading activities closed for the day, CSCS Plc remained the most active stock by value on a year-to-date basis with 1.5 million units exchanged for N57.6 million, followed by Geo-Fluids Plc with 6.4 million units valued at N43.3 million, and FrieslandCampina Wamco Nigeria Plc with 379,749 units worth N24.4 million.
In terms of volume, Geo-Fluids Plc led with 6.4 million units sold for N43.3 million, trailed by Industrial and General Insurance (IGI) Plc with 2.9 million units traded for N1.9 million, and CSCS Plc with 1.5 million units valued at N57.6 million.
Economy
Naira Appreciates to N1,421/$1 at Official Market
By Adedapo Adesanya
The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, January 12 by N1.71 to trade at N1,421.46/$1, in contrast to the preceding session’s N1,423.17/$1.
However, the local currency further depreciated against the Pound Sterling in the same market window yesterday by N3.81 to close at N1,915.84/£1 compared with last Friday’s price of N1,912.03/£1 and lost N3.55 on the Euro to quote at N1,661.68/€1 versus N1,658.13/€1.
In the same vein, the domestic currency depleted against the Dollar at the GTBank FX desk during the trading session by N4 to to settle at N1,431/$1 compared with the previous trading day’s rate of N1,427/$1 and closed flat in the black market at N1,490/$1.
The appreciation of the Nigerian currency against its American counterpart in the official market was supported by foreign portfolio investors’ inflow with support from non-bank corporate supply, leaving it within the N1,350/$1 – N1,450/$1.
“We anticipate that the CBN will emphasise exchange rate stability over rapid appreciation through 2026, supported by prudent policy execution and effective reserve management,” Coronation Merchant Bank research said in an update.
Despite a differential against other currencies, market analysts noted that stronger external inflows from FPIs, improving current account dynamics, and more disciplined FX management by the authorities, will give the Naira stronger footing.
As for the cryptocurrency market, most tokens tracked by this newspaper were largely down with traders seeing the market settle into equilibrium after leverage was flushed and liquidity thinned.
Market analysts noted that with spot demand soft and no clear institutional catalyst, price discovery continues to shift to where thinner liquidity and narrative trades can overwhelm fundamentals.
Litecoin (LTC) lost 4.6 per cent to trade at $76.25, Solana (SOL) depreciated by 1.6 per cent to $140.23, Cardano (ADA) slid by 1.4 per cent to $0.3914, Ripple (XRP) slumped by 0.9 per cent to $2.05, Ethereum (ETH) went down by 0.8 per cent to $3,128.74, and Dogecoin (DOGE) decreased by 0.5 per cent to $0.1392.
On the flip side, Binance Coin (BNB) appreciated by 0.3 per cent to $908.87, and Bitcoin (BTC) increased by 0.1 per cent to $91,916.73, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
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