NASD OTC Market Capitalisation Returns to N500bn After 0.26% Rise

Image

By Adedapo Adesanya

The market capitalisation of the NASD Over the Counter (OTC) Securities Exchange returned to the N500 billion region on Friday after it appreciated by 0.26 per cent.

This was buoyed by the price appreciation recorded by the shares of FrieslandCampina WAMCO Nigeria Plc, which are traded on the platform.

Business Post reports that the equity price of the milk maker at the unlisted securities market increased by N1.34 or 1.1 per cent to settle at N120.34 per unit in contrast to N119 per unit of the previous day.

As a result of this growth, the market capitalisation improved by N1.31 billion to N500.32 billion from N499.01 billion it ended on Thursday.

Also, the NASD Unlisted Security Index (NSI) rose by 1.83 points to close at 697.30 points in contrast to 695.47 points it finished a day earlier.

But despite the positive outcome recorded yesterday, the activity chart closed mixed with the volume of traded shares reducing by 93.6 per cent to 117,995 units from the previous day’s N1.9 million units.

Also, the number of deals executed by the market participants yesterday went down by 83.3 per cent to two deals from 12 deals on Thursday and they were all carried out on FrieslandCampina.

However, the value of stocks transacted by investors rose by 1,522.21 per cent to N14.2 million from the N875,347 achieved the preceding day.

At the close of business, UBN Property Plc maintained its position as the most traded stock by volume on a year-to-date basis with 15.5 million units valued at N16.8 billion. Central Securities Clearing Systems (CSCS) Plc followed in second place with 4.7 million units worth N74.6 million, while FrieslandCampina WAMCO Nigeria Plc held the third position with 2.8 million units worth N346.4 million.

In terms of the most active stock by value (year-to-date), FrieslandCampina retained its spot on top of the chart after trading 2.8 million units valued at N346.4 million. Niger Delta Exploration and Production (NDEP) Plc trailed for selling 612,249 securities valued at N198.1 million, while the third spot was occupied by CSCS Plc, which has traded 4.7 million units worth N74.6 million.

Share
Related Stories
Image
01-March-2024

Local Stock Market Rebounds, Closes Last Day of February 0.68% Higher

By Dipo Olowookere The last trading session of February 2024 at the Nigerian Exchange (NGX) Limited ended on a positive note as it rebounded by 0.68 per cent after the interest rate hike scare. The growth posted on Thursday was triggered by bargain-hunting in financial stocks, especially those selling at cheaper prices after the sell-offs in the past few sessions. However, profit-taking persisted in the other sectors of the bourse, with the energy, and consumer goods indices closing lower by 0.33 per cent, and 0.18 per cent, respectively. Business Post reports that the banking space rose by 6.14 per cent,

Image
29-February-2024

MasterCard, MTN Partner to Boost Digital Commerce, Payments

By Aduragbemi Omiyale A partnership aimed at driving acceleration of the mobile money ecosystem in Africa across 13 markets has been entered into between Mastercard and MTN Group Fintech. This is coming shortly after the payments giant completed the purchase of a minority stake in the telecommunications company. The deal will see Mastercard giving a prepaid virtual card tailored for MTN’s MoMo customers, granting them access to over 100 million acceptance points worldwide. Additionally, it will empower MoMo merchants to seamlessly accept card payments, enhancing the platform’s instant cross-border money remittance services and capabilities. Further, Mastercard will use its cutting-edge

Image
29-February-2024

No Going Back on Reforms—Tinubu

By Adedapo Adesanya President Bola Tinubu has said there is no going back on the reforms embarked upon by his government that have led to the hike of essential goods and services in the country. He made this known as he inaugurated the Red Line Rail Project in Lagos on Thursday. The project, an intra-state rail service, is aimed at improving transportation within the city and spans 37 kilometres. Speaking while inaugurating the project, the President reiterated his administration’s commitment to improving the nation’s infrastructural development. He said, “But this revolution that has started, this reform that is ongoing, we

Image
01-March-2024

Risevest Suspends Crypto Payment as Clampdown Intensifies

By Adedapo Adesanya Foreign stocks trading and investment firm, Risevest, has voluntarily announced a temporary suspension of cryptocurrency assets in Nigeria until the current wave of clampdown on operations settles. In a notice sent to customers on Friday and seen by Business Post, the platform said users won’t be able to fund their wallets using cryptocurrency as it allowed. The company revealed that it noticed that there has been an uptick in funding and possible gaming of the system, and warned against this. “We’re temporarily suspending crypto funding on Rise for users in Nigeria, pending clarity on the regulatory landscape.

More Stories
Image
07-July-2018

Nigerian Startup Firm Publiseer Goes to MIT Solve

By Dipo Olowookere A popular digital content distribution platform in Nigeria, Publiseer, has found its way to the MIT Solve Global Challenges. MIT Solve is a business incubator from the Massachusetts Institute of Technology, USA, that advances solutions from tech entrepreneurs to address pressing global issues by connecting innovators with resources such as expertise, human capital, technology, and funding. Since August 2017, Publiseer has been addressing the issue of digital content distribution and monetization in Africa, giving independent African writers and musicians from low-income communities the opportunity to earn a living from their craf

Image
20-April-2017

CBN Gives Banks 48 Hours to Process Form NXP

By Modupe Gbadeyanka In a bid to improve the ease of doing business in Nigeria, the Federal Government has approved the reduction of timeline for processing the mandatory form NXP. Before any export business is initiated in Nigeria, an exporter is required to register with the Nigerian Export Promotion Council (NEPC) and is mandated to complete and register Form NXP with an authorized dealer (any commercial or merchant bank) of his choice. The main aim of this is to ensure goods to be exported meet with the buyer’s expectation (order) since the goods will be subjected to inspection, conducted by

Image
01-February-2024

Naira Appreciates to N1,455.59/$1 at Official Market as CBN Barks

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, January 31, after the Central Bank of Nigeria (CBN) moved to staunch banks from hoarding foreign exchange (FX) in a bid to stabilise the market, which had been under pressure lately. The Naira was sold for N1,455.59 per Dollar at the spot market yesterday compared with the previous day’s exchange rate of N1,482.57/$1, indicating an appreciation of 1.8 per cent or N26.98. However, the domestic currency weakened against the Pound Sterling in the official market in the midweek session by

Image
17-January-2019

Gunmen Assassinate Undercover Journalist in Ghana

By Dipo Olowookere A Ghanaian undercover journalist, Mr Ahmed Hussein-Suale, has been assassinated by some unknown gunmen. Mr Hussein-Suale was shot dead in what looked like an assassination on Wednesday night while returning to his home. The deceased was a team member of popular undercover journalist in Ghana, Mr Anas Aremayaw Anas, who runs Tiger Eye Private Investigations. After Mr Hussein-Suale involved in the undercover report exposing bribing scandal in the Ghana Football Association, a local politician and lawmaker, Mr Kennedy Agyapong, was seen in a video saying, “If he comes here, beat him…, whatever happens, I’ll pay.” His football

Image
19-April-2017

N450m from Lagos Plaza Forfeited to FG

By Modupe Gbadeyanka The Economic and Financial Crimes Commission (EFCC) has secured an order to seize the N450 million recovered from a shop at LEGICO Shopping Plaza, Victoria Island, Lagos recently. The order for an interim forfeiture was granted on Wednesday by Justice R.M. Aikwa of the Federal High Court sitting in Ikoyi, Lagos. This followed a motion ex-parte filed by a prosecutor with the EFCC, Mr Rotimi Oyedepo, pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006. In his ruling, Justice Aikawa ordered anyone interested in the money to appear

Image
18-December-2023

GTBank Adds FX Sales Feature to GTWorld App

By Aduragbemi Omiyale A foremost financial institution in Nigeria, GTBank Limited, has introduced a new feature to its mobile application, GTWorld. The new addition to the app allows users to buy and sell foreign exchange (FX) on the platform designed to carry out financial services offered by the lender. In a message to its customers on Monday, the bank said the new feature, FX Sales, provides an avenue for users of the application to access forex at competitive rates. GTBank said in the note seen by Business Post that “This service is available between 9 am and 4 pm Mondays

Image
27-November-2017

Looming Fed Testimony, Data May Lead to Choppy Trading on Wall Street

By Investors Hub The major U.S. index futures are pointing to a mixed opening on Monday, with the Dow futures up by 12 points but the Nasdaq futures down by 2 points. Trading activity may be somewhat subdued ahead of congressional testimony from Federal Reserve Chair Jerome Powell and current Fed Chair Janet Yellen. The Senate Banking Committee is due to hold a confirmation hearing for Powell on Tuesday, while Yellen is scheduled to testify on the economic outlook before the Congressional Joint Economic Committee on Wednesday. Economic data may also attract attention this week, as traders are likely to

Image
29-November-2019

Q3’19: FCMB Suffers 13.5% Decline in Pre-Tax Profit

By Dipo Olowookere The long-awaited financial statements of FCMB for the period ended September 30, 2019, have finally been released by the board of the company and posted on the Nigerian Stock Exchange (NSE) for public consumption. In the results briefly analysed by Business Post, the financial company suffered a 13.5 percent decline in the profit before tax (PBT), while the profit after tax (PAT) went down by 4.4 percent. According to the financial documents, the pre-tax profit in the third quarter of this year reduced to N12.8 billion from N14.8 billion in the same period of 2018, while the

Ad
Ad
Recent Stories
Image
02-March-2024

Endosurvivors Foundation Set For Another Endometriosis Awareness

By Adedapo Adesanya EndoSurvivors International Foundation (ESIF), an NGO championing endometriosis awareness in Nigeria, has announced its upcoming events in commemoration of the Global Endometriosis Advocacy Month in March, fondly tagged March4Endo by advocates all over the world.  Endometriosis is a chronic and inflammatory condition that affects approximately 1 in 10 girls and women in Nigeria and on a global scale. This sums up to about 190 million affected girls/women around the world, about the population of Nigeria in 2018.  The World Health Organisation (WHO) recognizes that endometriosis has significant social, public health, and economic implications leading to a decrease

Image
02-March-2024

CSCS, FrieslandCampina Lift NASD OTC Bourse by 0.31%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive territory after it gained 0.31 per cent on Friday, March 1, thanks to the duo of Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc. CSCS Plc added 81 Kobo to its value to sell for N19.46 per unit compared with the preceding day’s N18.65 per unit, and FrieslandCampina improved by N1.15 to settle at N71.4o per share, in contrast to Thursday’s closing price of N70.25 per share. However, Aradel Holdings Plc continued its price depreciation yesterday as it shed N6.75 to sell at N2,395.00

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
02-March-2024

Crude Oil Jumps 2% as Traders Sight Possible OPEC+ Cuts

By Adedapo Adesanya Crude oil appreciated by about 2 per cent on Friday as traders awaited a decision from the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on supply agreements for the second quarter. Yesterday, the price of Brent futures went up by $1.64 or 2 per cent to $83.55 per barrel and the US West Texas Intermediate (WTI) futures rose by $1.71 or 2.19 per cent to $79.97 a barrel. For the week, Brent added around 2.4 per cent while WTI gained more than 4.5 per cent. Analysts noted that the expectation that OPEC+ is going to

Image
02-March-2024

NGX Indices Nosedive by 1.23% as Traders Resume Profit-Taking

By Dipo Olowookere The bears made a quick return to the Nigerian Exchange (NGX) Limited after leaving the stage for the bulls for a day as investors reassessed the impact of the hike in the benchmark interest rate by the Central Bank of Nigeria (CBN) on Tuesday on their investments. On Friday, the key performance indicators of the bourse closed lower by 1.23 per cent as a result of renewed selling pressure, especially in the energy and industrial goods sectors. Business Post reports that at the close of transactions on the first trading session of March 2024, the industrial goods

Image
01-March-2024

CBN Revokes Operational Licences of 4,173 BDC Operators [FULL LIST]

By Aduragbemi Omiyale The operational licences of 4,173 Bureaux De Change (BDC) operators have been revoked by the Central Bank of Nigeria (CBN). A statement signed by the acting Director of the Corporate Communications Department of the apex bank, Mrs Hakama Sidi Ali, on Friday disclosed that the action was taken because the affected BDCs did not adhere to regulatory provisions. The central bank said the BDCs did not pay all necessary fees, including licence renewal, within the stipulated period in line with guidelines. It also said they failed to give account of returns in line with the guidelines, and

Image
01-March-2024

BREAKING: Popular Yoruba Comic Actor Sisi Quadri Dies

By Modupe Gbadeyanka A popular Yoruba comic actor, Mr Tolani Quadri Oyebamiji, otherwise known as Sisi Quadri, has died, according to reports. However, the cause of his death is still unclear as of the time of filing this report. There are speculations that he briefly fell ill before his passing, though he was seen publicly some months ago with a fellow comic actor, Sanusi Izihaq, who is well-known as Apa or Apankufor. Sisi Quadri, who died at the age of 44, was recently gaining fresh public attention with his comic act with Apa and others. His demise has hit the

Image
01-March-2024

Transcorp Power to List Shares on Nigerian Exchange March 4

By Dipo Olowookere Another power generating company will join Geregu Power Plc on the Nigerian Exchange (NGX) Limited, Business Post has gathered. The new firm joining the nation’s flagship stock exchange is Transcorp Power Plc, a company owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu. Information reaching this newspaper is that Transcorp Power is listing its shares on the NGX by introduction on Monday, March 4, 2024. The organisation is taking to the stock market about 7,500,000,000 units of its equities at N240.00 each, increasing the total value of the local equity market by N1.8 trillion. Its

Image
01-March-2024

Risevest Suspends Crypto Payment as Clampdown Intensifies

By Adedapo Adesanya Foreign stocks trading and investment firm, Risevest, has voluntarily announced a temporary suspension of cryptocurrency assets in Nigeria until the current wave of clampdown on operations settles. In a notice sent to customers on Friday and seen by Business Post, the platform said users won’t be able to fund their wallets using cryptocurrency as it allowed. The company revealed that it noticed that there has been an uptick in funding and possible gaming of the system, and warned against this. “We’re temporarily suspending crypto funding on Rise for users in Nigeria, pending clarity on the regulatory landscape.

Image
01-March-2024

Foreign Capital Into Nigeria’s Energy Industry Plunges 42.8% to $3.64bn in 2023

By Adedapo Adesanya Foreign capital inflows, which gauges the level of foreign investment into the country, through the Nigerian oil and gas industry in 2023 dropped by 42.8 per cent to $3.64 million from the $6.37 million recorded in 2022. This is contained in the latest data obtained from the Nigeria capital importation report for the fourth quarter of 2023 released recently by the National Bureau of Statistics (NBS). The NBS revealed that total foreign capital inflow into the oil and gas sector in 2023 accounted for 0.09 per cent of total foreign capital inflow into the Nigerian economy in