NDEP Raises NASD Market Cap by N3.65bn

By Adedapo Adesanya

The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange increased on Monday, August 17 by N3.65 billion or 0.70 per cent.

The leap in the total size of the market yesterday was as a result of the gains in the share price of Niger Delta Exploration and Production (NDEP) Plc.

The company, which was the day’s single price mover, jerked up by N20.12 on the first trading session of the week to N324.79 per share from N304.87 per cent.

This rise pushed the market capitalisation of the exchange higher to N527.73 billion from the previous session’s N524.07 billion.

Equally, it inched the NASD Unlisted Securities Index (NSI) higher by 4.79 points to 718.43 points from the 713.46 points it closed last Friday.

During the session, the trading value increased by 438.2 per cent to N7.2 million from N1.33 million, while the trading volume rose by 144.5 per cent to 25,870 units from 10,500 units.

There were seven deals carried out yesterday and they were from FrieslandCampina WAMCO Nigeria Plc with four deals, NDEP Plc with two deals, and Central Securities and Clearing Systems (CSCS) Plc with one deal.

ARM Life Plc remained the most active stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc followed with 200.4 million units valued at N2.7 billion, while Food Concept Plc came in third with 125.1 million units of its shares worth N88.1 million.

Equally, ARM Life Plc also remained the most traded stock by value (year-to-date) for trading 7.4 billion shares valued at N4.6 billion. CSCS Plc trailed with 200.4 million units exchanged for N2.7 billion, while NDEP Plc was in third place with 8.7 million units valued at N2.7 billion.