NDEP, Nipco Inspire 0.24% Gain on NASD Exchange Tuesday

By Adedapo Adesanya 

Gains printed by shares of Niger Delta Exploration and Production Plc (NDEP) and Nipco Plc on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday supported the closure of transactions in the positive territory.

The two firms helped the unlisted securities market in Nigeria record a 0.24 percent growth yesterday after closing the first trading day of the week on a flat note.

NDEP led the gainers’ chart during Tuesday’s session to have its share price closing at N323.55 per share from N318.51 per share after rising by N5.04k; while Nipco Plc, gained N1.53k to settle at N72.53k from N71 per share.

At the close of business, the NASD Unlisted Securities Index (NSI) increased by 0.24 percent from 693.22 points to 694.89 units, while the market capitalisation appreciated by N1.2 billion to N499.24 billion from N498.04 billion.

Business Post reports that the total volume of shares transacted by investors during the session significantly increased by 765,752 percent from 100 units to 765,852 units. In the same vein, the total value of stocks exchanged skyrocketed by 912,701 percent from N11,500 to N104.97 million.

In addition, the exchange also saw a higher number of deals executed by traders at the market, rising by 700 percent or seven deals to eight deals from the single deal transacted at the previous session.

The day ended with Food Concept Plc still the most active stock by volume (year to date), trading 1,158,828,284 units valued at N844.0 million, and followed by UBN Properties with 941,318,597 units worth N1.27 billion.

By value (year-to-date), Central Securities Clearing System (CSCS) Plc remains on top with 202,272,698 units worth N2.53 billion, while UBN Properties is on the second spot with 884,529,600 units of its securities sold for N1.2 billion.