NDEP Sinks NASD OTC Exchange by 0.16%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed on a negative note on Friday as it went down by 0.16 per cent at the close of business.

This was caused by the decline in the share price of Niger Delta Exploration and Production (NDEP) Plc, as it fell by N9.17 to close at N250.83 per unit compared with the previous day’s value of N260.00 per unit.

Consequently, the market capitalisation of the NASD OTC exchange reduced by N1.66 billion to N1.024 trillion from the N1.026 trillion it quoted at the previous session.

In the same vein, the NASD Unlisted Securities Index (NSI) depreciated by 1.21 points to end the day at 740.74 points as against the 741.95 points it recorded at the previous session.

The number of transactions carried out during the session decreased by 40.00 per cent to 18 deals from the 30 deals executed a day earlier.

However, the volume of securities traded during the session increased significantly by 567.5 per cent to 5.1 million units from the 770,273 units transacted a day earlier, as the volume of trades increased by 1,071.9 per cent to N34.98 million from N2.99 million.

The most traded stock by volume on a year-to-date basis was Geo-Fluids Plc with a turnover of 838.5 million units valued at N1.3 billion, it was followed by Industrial and General Insurance (IGI) Plc with a sale of 630.1 units worth N49.6 million, while UBN Property Plc was in third place with the sale of 395.9 million units valued at N336.6 million.

Also, the most traded stock by value on a year-to-date basis remained VFD Group Plc with a turnover of 11.0 million units valued at N2.5 billion, followed by Geo-Fluids Plc with a turnover of 838.5 million units worth N1.3 billion, while FrieslandCampina Wamco Nigeria Plc retained its position in third place with the sale of 17.9 million units valued at N1.3 billion.