NDEP Brings Down NASD OTC Exchange by 0.23%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange was brought down by 0.23 per cent on Friday amid a decline in the share price of Niger Delta Exploration and Production (NDEP) Plc.

The company lost N13 or 6.57 per cent to close at N185.00 per share in contrast to the N198.00 per share it closed a day earlier and in the absence of a price gainer to ease the pain, the market capitalisation of the NASD OTC Exchange went down by N2.36 billion to N1.021 trillion compared with the previous day’s N1.023 trillion.

When the market closed for the session, the NASD Unlisted Securities Index (NSI) depreciated by 1.79 points to settle at 775.32 points compared with the previous day’s 777.11 points.

The activity level was not impressive on the last trading session of the week as the volume of securities traded at the bourse went down by 93.4 per cent to 14,235 units from the 216,194 units transacted on Thursday.

Similarly, the value of shares bought and sold by investors during the session depreciated by 87.6 per cent to N2.4 million from N20.0 million. These trades were executed in six deals, 68.4 per cent lower than the 19 deals carried out on Thursday.

AG Mortgage Bank Plc finished the session as the most traded stock by volume on a year-to-date basis with 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with 672.9 million units worth N14.0 billion, while Food Concepts Plc was in third place with 146.0 million units valued at N126.7 million.

On the flip side, the most traded stock by value on a year-to-date basis was CSCS Plc with the sale of 672.9 million units worth N14.0 billion, VFD Group was in second place with 9.6 million units valued at N3.0 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place for transacting 9.4 billion units valued at N1.2 billion.