NDEP Lifts Unlisted Stock Exchange By 0.19%

June 8, 2023

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.19 per cent on Wednesday, June 7, as a result of the price appreciation in the shares of Niger Delta Exploration and Production (NDEP) Plc during the session.

The indigenous oil and gas company closed the trading day at N260.00 per unit after adding N14.85 to its previous day’s closing price of N245.15 per unit.

The appreciation lifted the value of the bourse by N1.93 billion to wrap the day at N1.007 trillion from the N1.005 trillion that it closed in the preceding session.

Following the same trend was the main market index, the NASD Unlisted Securities Index (NSI), which grew by 1.39 points to wrap the session at 728.25 points compared with 726.86 points recorded at the previous session.

The market witnessed a sole price loser and it was Geo-Fluids Plc, which went down by 18 Kobo to close at N2.90 per share versus Tuesday’s closing price of N3.08 per share.

The volume of securities traded at the bourse during the midweek session decreased by 93.5 per cent to 89,903 units from the 1.4 million units achieved a day earlier, the value of shares traded yesterday declined by 74.1 per cent to N9.2 million from N35.7 million, while the number of deals depleted by 55.6 per cent to 12 deals from the 27 deals recorded in the preceding trading session.

Geo-Fluids Plc finished the trading day as the most traded stock by volume (year-to-date) with a turnover of 832.1 million units valued at N1.3 billion, IGI Plc stood in second place with 628.3 units worth N49.5 million, while UBN Property Plc was in third place with 395.9 million units valued at N336.6 million.

Also, VFD Group Plc remained the most traded stock by value (year-to-date) with 11.0 million units worth N2.5 billion, followed by Geo-Fluids Plc with 832.1 million units worth N1.3 billion, FrieslandCampina Wamco Nigeria Plc with 17.5 million units valued at N1.2 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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