NDEP Emerges Most Active Stock on NASD Exchange Tuesday

Niger Delta Petroleum Resources NDEP

By Adedapo Adesanya

The total volume of shares transacted at the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, January 14, 2020 increased by 769.12 percent or 392,250 units to 443,250 units from 130,595 units traded on Monday.

A breakdown of the trades showed that most the transactions were done by Niger Delta Exploration and Production (NDEP) Plc, accounting for nearly 100 percent of the trading volume.

According to data obtained by Business Post, the oil and gas investment company sold 430,005 units of its stocks worth N136.5 million executed in five deals on Tuesday.

Friesland Campina Wamco followed with 11,035 units of its shares worth N1.3 million transacted in six deals, while Central Securities Clearing System (CSCS) traded 2,005 units valued at N25,893 executed in three deals.

Also, at the close of business, the total value of shares increased, spurred by trading activities around NDEP, contributing N136.5 million to the N137.9 million worth of shares transacted yesterday at the bourse. The turnover increased during the session by 830.2 percent or N123.1 million N137.9 million from N14.8 million quoted on Monday.

In addition, the total number of deals executed by market participants yesterday went up by 750 percent or 17 deals to 19 deals from the two deals achieved on Monday. However, the NASD Exchange closed without a price gainer or a price loser.

In the same vein, the market capitalisation remained unchanged at the close of activities on Tuesday at N501.54 billion, while the NASD Unlisted Security Index (NSI) closed flat at 702.28 points.

The most traded stock (year-to-date) was still held by ARM Life Plc with 29 million units of its shares transacted for N18.3 million, while NDEP Plc is in second position with 560,600 units traded at N176.8 million, with NIPCO Plc in third place after trading 80,150 units for N5.6 million.

In terms of the most active by value (year-to-date), NDEP remained on top with 560,600 units worth N176.8 million, while ARM Life Plc trailed with 29 million  units valued at N18.3 million, with NIPCO Plc selling 80,150 units worth N5.6 million.

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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