NDEP, CSCS Lift Exchange by 1.16% at Midweek

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rose by 1.16 percent on Wednesday, June 24.

The day’s positive outcome came as a result of gains recorded in the stock prices of Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing Systems (CSCS) Plc.

NDEP Plc saw its share price rise by N6.05 from N318.95 per share to N325 per share, while CSCS Plc gained 97 kobo to close at N13.97 in contrast to the previous rate of N13 per share.

As a result, the NSI jumped 1.16 percent or 8.10 points to 709.11 points from 701.01 points recorded at the Tuesday’s session, while the bourse’s market capitalisation closed at N520.89 billion after adding N5.95 billion or 1.15 percent to the previous market size of N514.94 billion.

At the midweek session, there was an increase in the volume of shares transacted by market participants. A total of 23,950 shares were transacted during the market day as against the previous day’s 8,525 points, representing a 180.9 growth.

These transactions came from five deals executed on Wednesday and they were from Afriland Properties Plc and CSCS Plc (two deals each) and NDEP Plc (one deal).

At the previous session, the value of transactions totalled N2.04 million, but on Wednesday, it increased by 1.3 percent to N2.1 million.

ARM Life Plc remained on Wednesday as the most traded stock by volume (year-to-date) with 7.5 billion units of its shares transacted for N4.6 billion. CSCS Plc was in second place with 196.7 million units traded at N2.6 billion, while Food Concept Plc followed in third place with 110 million units traded at N80.5 million.

Also, ARM Life Plc was the most active stock by value (year-to-date) for transacting a total of 7.4 billion units worth N4.6 billion. CSCS Plc came in second place with 196.7 million units valued at N2.6 billion, while NDEP Plc took charge of the third spot with 7.9 million units worth N2.4 billion.