NDEP, 3 Others Shrink NASD Market Cap by N3.5bn

NASD OTC market

By Adedapo Adesanya

Four securities admitted on the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange depreciated on Wednesday.

The stocks depressed the total value of equities on the exchange by 0.68 per cent or N3.5 billion at close of transactions yesterday to N514.80 billion from the previous N518.30 billion.

Data from the exchange showed that the benchmark index of the unlisted securities market, NASD Unlisted Security Index (NSI), was also weakened by these four stocks by 0.68 per cent or 4.77 points to 700.82 points from 705.59 points of Tuesday.

These depressing securities were led by the Niger Delta Exploration and Production (NDEP) Plc, which lost N16.18 to close at N273.82 per share in contrast to the preceding day’s N290 per share.

Second on the list was Afriland Properties Plc, which dropped 20 kobo to end the day at N1.98 per share compared to N2.18 per share of the previous session.

in addition, FrieslandCampina WAMCO Nigeria Plc lost 7 kobo to close at N123.27 per share versus N123.34 per share, while UBN Properties shed 4 kobo to end the session at N1.4 per share as against the prior day’s N1.44 per share.

On the activity chart, things pointed south as the total volume of securities traded by investors on Wednesday dropped 3.2 per cent to 405,530 units from the 419,121 units traded on Tuesday.

These transactions came from the 19 deals executed during the session at the exchange compared with the previous day’s 10 deals.

FrieslandCampina WAMCO Nigeria Plc accounted for nine deals; NDEP Plc did four deals, Central Securities Clearing Systems (CSCS) Plc had three deals; Afriland Properties Plc recorded two deals; and UBN Properties Plc with one.

There was also a rise in the value of shares traded on Wednesday as investors traded stocks worth N19.9 million. At the previous day, securities valued at N17.1 million exchanged hands, indicating a 16.5 per cent increase.

ARM Life Plc closed the session as the company with the highest number of traded stocks (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 199.6 million units worth N2.7 billion, while Food Concept Plc held the third position with 125 million units of its shares worth N88 million.

ARM Life Plc also finished as the firm with the highest trading value (year-to-date). The insurance company has sold 7.4 billion units of its securities worth N4.6 billion, while CSCS Plc has transacted 199.6 million units for N2.7 billion, with NDEP Plc selling 8.4 million units of its securities valued at N2.6 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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