Adedapo Adesanya
By Adedapo Adesanya
Unlisted securities trading on the NASD Over-the-Counter (OTC) Securities Exchange pulled a 0.01 per cent growth on Tuesday driven by the positive price movement in the shares of Niger Delta Exploration and Production (NDEP) Plc.
The equity price of the company gained 35 kobo or 0.11 per cent to close the session at N310.12 per share in contrast to N309.77 per share it traded at the previous session.
The appreciation in the value of the oil investment company’s stock led to an upward movement in the NASD Unlisted Security Index (NSI). The benchmark index increased during the session by 0.09 points to close at 719.40 points compared with 719.31 points of the previous day.
Similarly, this led to the marginal rise in the market capitalisation of the bourse by N60 million to close the day at N528.44 billion versus N528.38 billion it ended on Monday.
Business Post reports that a total of 101,780 units of shares were transacted on Tuesday at the NASD OTC market compared to 2,347 units recorded in the previous day, indicating a rise by 4,236.6 per cent.
These trades were transacted in six deals with NDEP Plc accounting for four deals while FrieslandCampina WAMCO Nigeria recorded the remaining two deals.
According to data from the exchange, the total value of the transactions recorded yesterday increased by 9,465.7 per cent to N31.5 million from N328,580 realised on Monday.
An underwriting firm, ARM Life Plc, remained the most active stock by volume (year-to-date) for trading 7.4 billion units of its shares for N4.6 billion. Central Securities Clearing Systems (CSCS) Plc was in second place with 203.5 million units worth N2.7 billion, while Food Concepts Plc held the third position with 128.1 million units of its shares worth N90.2 million.
Also, ARM Life ended the session as the most active stock by value (year-to-date) as it has traded 7.4 billion units of its securities worth N4.6 billion. The second spot was retained by NDEP Plc, which has transacted 10.8 million units valued at N2.7 billion, while the third place was occupied by CSCS, which has exchanged 203.5 million stocks for N2.7 billion.
