NASD Securities Open Week With 0.34% Loss
By Adedapo Adesanya
Stocks admitted on the NASD Over-the-Counter (OTC) Securities Exchange extended their stay in the negative territory on the first trading session of the new week with a 0.34 per cent loss.
At the unlisted securities market on Monday, the negative price movement in Niger Delta Exploration and Production (NDEP) Plc further pinned the bourse in the bearish zone.
NDEP Plc recorded a N19 or 7.6 per cent decline in its value to settle at N251.50 per unit compared to N270.50 per unit of the preceding session.
The loss by this company overshadowed the gains printed by two firms, Nigerian Exchange (NGX) Group Plc, which grew by 41 kobo or 2.4 per cent to close the session at N16.90 per share in contrast to N16.49 per share of the earlier session, and Central Securities Clearing Systems (CSCS) Plc, which appreciated by 9 kobo or 0.5 per cent to close at N18.54 per unit versus N18.45 per unit it closed last Friday.
The impact of NDEP on the market yesterday reduced the NASD Unlisted Security Index (NSI) by 2.52 points to 749.98 points from 752.50 points and weakened that market capitalisation by N2.19 billion to N651.86 billion from N654.05 billion.
Despite the loss, Business Post gathered that the level of activity improved on Monday as the volume of securities transacted by investors increased by 398.9 per cent to 7.4 million units from 1.5 million.
Likewise, the value of stocks transacted increased by 2,292.8 per cent to N861.0 million from N35.9 million, while the number of deals rose by 18.5 per cent to 32 deals from 29 deals.
At the close of business, Geo Fluids Plc remained the most active stock by volume (year-to-date) with 1.0 billion stocks valued at N700.1 million. NGX Group trailed with 369.9 million valued at N7.9 billion, while Food Concepts Plc has traded 292.0 million units valued at N383.6 million.
Conversely, NGX Group ended Monday’s session as the most active stock by value (year-to-date) for transacting 369.9 million units for N7.9 billion, followed by VFD Group Plc with 6.3 million units worth N2.0 billion, and NDEP Plc with 3.2 million units worth N981.6 million.