NDEP Lifts NASD OTC Exchange by 0.38%

August 9, 2022

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange opened the week in the bullish territory on Monday, August 8 coming from the lift in the stock price of Niger Delta Exploration and Production (NDEP) Plc, which advanced the market by 0.38 per cent.

This raised the market capitalisation of the NASD OTC Exchange by N3.84 billion during the session to N1.005 billion from the preceding session’s N1.002 trillion as the NASD Unlisted Securities Index (NSI) added 2.91 points to end the day at 764.18 points as against the 761.27 points it recorded in the previous session.

NDEP Plc saw its stock jump by N21.12 to close at N232.34 per unit against N211.22 per unit it was traded last Friday.

Data showed that the volume of securities traded at the bourse improved by 17.2 per cent to 543,054 units from the previous session’s 463,214 units.

Likewise, there was a 1,780.1 per cent surge in the value of shares traded yesterday to N125.0 million from N6.7 million, while the number of deals increased by 50 per cent to 12 deals from eight deals.

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, followed by Central Securities Clearing System (CSCS) Plc with 686.5 million units worth N14.2 billion, and Food Concepts Plc with 146.9 million units valued at N127.5 million.

Also, CSCS Plc closed the trading day as the most traded stock by value on a year-to-date basis with its 686.5 million units worth N14.1 billion, trailed by VFD Group Plc with 11.1 million units valued at N3.3 billion, and FrieslandCampina WAMCO Nigeria Plc with 13.9 million units valued at N1.7 billion.

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.

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