Economy
NASD OTC Index Drops to 736.54 Points as Market Cap Jumps to N623.69bn
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed mixed on Thursday with the main index depreciating by 0.04 per cent and the market capitalisation rising by 2.45 per cent at the close of trading.
It was observed that the loss recorded by Mass Telecom Innovation Plc scrapped off 0.29 points from the NASD Unlisted Security Index (NSI), closing at 736.54 points compared with 736.83 points of the previous session.
Mass Telecom Innovation Plc lost 5 kobo or 11.1 per cent to wrap the session at 45 kobo per share versus 45 kobo per share it traded on Wednesday.
However, the total value of securities on the NASD OTC platform increased yesterday by N14.93 billion to N623.69 billion from N608.76 billion it finished at the midweek trading session.
A look at the activity chart yesterday showed that there was a decrease in the volume of securities traded at the bourse as investors exchanged 11,107 units compared to the previous trading day’s 160,564 units of securities, indicating a decline of 93.1 per cent.
There was also a fall in the value of traded securities on Thursday as investors exchanged shares worth N265,198.50 compared with the preceding day’s N779,637.80, showing a decline of 66.8 per cent.
In the same vein, the number of deals executed during the session went down by 81.8 per cent to two deals from the 11 deals carried out on Wednesday.
Food Concepts Plc remained as the most active stock by volume (year-to-date) at the bourse as it has traded 11.4 billion units of its shares for N14.4 billion. It was followed by Lighthouse Financial Services with a turnover of 1.1 billion traded for N546.2 million, and Geo Fluids Plc with 1.0 billion units worth N700.1 million.
In terms of value, Food Concepts Plc was also the most traded stock on a year-to-date basis with a turnover of 11.4 billion units of its securities traded for N14.4 billion, followed by Nigerian Exchange (NGX) Group Plc with 456.5 million units of its securities valued at N9.2 billion, and VFD Group Plc with 10.4 million units worth N3.5 billion.
Economy
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Conclusion
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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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