NDEP, Friesland Sink Unlisted Stock Market by 0.41%

January 7, 2023
Niger Delta Petroleum Resources NDEP

By Adedapo Adesanya

The duo of Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina Wamco Nigeria Plc made the NASD Over-the-Counter (OTC) Securities Exchange record its first loss of the year.

After the market kicked off the year on Tuesday, it went on a winning streak until on Friday, when it slipped by 0.41 per cent due to the fall in the prices of the two stocks.

Business Post reports that the market capitalisation of the unlisted stock exchange shrank during the trading session by N3.90 to close at N938.99 billion, in contrast to Thursday’s value of N942.89 billion.

Further, the NASD Unlisted Securities Index (NSI) closed lower by 2.96 points at the close of business to 714.60 basis points from the preceding day’s 717.56 basis points.

The share price of NDEP Plc fell yesterday by N10.74 to settle at N187.04 per unit compared with the prior session’s N197.78 per unit, and FrieslandCampina Wamco Plc shed N1 to quote at N69.00 per share versus Thursday’s N70.00 per share.

As for the activity chart, investors traded a total of 135,116 units of securities, in contrast to the 50,750 units of securities transacted in the preceding session, indicating a jump of 166.2 per cent.

Also, the value of shares exchanged by the market participants went up by 31.8 per cent to N10.3 million from N7.3 million, while the total number of deals executed yesterday went down by 65.6 per cent to 11 deals from the previous session’s 32 deals.

The trading data showed that VFD Group Plc was the most traded stock by volume (year-to-date), with 349,456 units valued at N85.3 million. FrieslandCampina Wamco Nigeria Plc transacted 296,738 units worth N20.0 billion, while Nipco Plc has exchanged 107,398 units valued at N6.4 million.

Also, VFD Group Plc was the most transacted stock by value (year-to-date) for trading 349,456 units valued at N85.3 million, followed by FrieslandCampina Wamco Nigeria Plc with 296,738 units worth N20.0 million, and Nipco Plc with 107,398 units valued at N6.4 million.

Adedapo Adesanya

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.

Leave a Reply

Local Stock Exchange
Previous Story

Local Stock Exchange Rebounds by 0.70% Amid Weak Sentiments

naira value
Next Story

Naira Depreciates at Peer-to-Peer, Parallel Market

Latest from Economy

Don't Miss