NDEP, Friesland Buoy NASD Exchange by 0.18%

By Adedapo Adesanya

Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc returned the NASD Over-the-Counter (OTC) Securities Exchange to the bullish territory as both companies’ prices moved up.

The share price of NDEP Plc gained N5 or 1.9 per cent to close at N275 per unit compared to the previous closing price of N270 per unit, while the value of Friesland appreciated by 37 kobo or 0.3 per cent to close at N130.37 per share in contrast to the previous N130.00 per share.

The growth recorded by the two bellwethers spurred the key performance parameters of the market, the NASD Unlisted Security Index (NSI) and the market capitalisation to rise by 0.18 per cent each just a day after they closed in the negative territory.

The market capitalisation improved on Thursday by N930 million to N507.58 billion from N506.65 billion, while the NSI grew by 1.30 points to 707.41 points from 706.11 points.

During the trading day, the share price of UBN Property Plc went down by 6 kobo or 4.8 per cent to settle at N1.20 per unit as against N1.26 per unit it was traded on Wednesday.

Yesterday, there was a rise in the total volume of shares transacted by investors by a massive 1,589.6 per cent to 5.1 million units from the previous day’s 300,400 units.

In the same vein, the total value of securities traded jumped by 418.4 per cent to N23.5 million from the N4.5 million worth of shares at the preceding trading session.

Business Post reports that the total number of deals also went up by 125 per cent to nine deals from the four deals recorded at the previous session.

These deals were executed on three companies, NDEP Plc (five deals), FrieslandCampina WAMCO Nigeria Plc (three deals) UBN Property Plc (one deal).

With a total of 21.9 million units of its share traded for N24.6 billion, UBN Property Plc was the company with the most traded stock at the exchange by volume on a year-to-date basis. It is followed by Central Securities Clearing Systems (CSCS) Plc for trading 5.0 million units worth N79.1 million, and Friesland for exchanging 2.9 million units worth N359.5 million.

But by value (year-to-date), Friesland came first with 2.9 million units valued at N359.5 million. NDEP Plc trailed with 663,749 units valued at N212.5 million, while CSCS Plc has traded 5.0 million units worth N79.1 million.