NDEP, Three Others Boost NASD OTC Bourse by 0.72%

September 22, 2021

By Adedapo Adesanya

Transactions on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed in the bullish zone on Tuesday, September 21 after a 0.72 per cent growth driven by the positive price movements in four companies.

Niger Delta Exploration and Production (NDEP) Plc led the price gainers yesterday with an appreciation of N15 or 5.6 per cent to close at N270 per share versus the previous day’s N255 per share.

FrieslandCampina WAMCO Nigeria Plc was another gainer as its value increased by N2.43 or 1.9 per cent to N125 per unit from N122.57 per unit.

It was followed by hot performer, NASD Plc, which further gained 77 kobo or 8.9 per cent to sell at N8.62 per unit compared with the last trading value of N7.85 per unit.

Nigerian Exchange (NGX) Group Plc improved its share price at the session by 47 kobo or 3.5 per cent to close at N13.48 per share in contrast to N13.01 per share it traded at the previous session.

The gains posted by these stocks jerked the market capitalisation of the bourse up by N4.56 billion to N640.88 billion from N636.32 billion and lifted the NASD Unlisted Security Index (NSI) by 5.24 points to 737.34 points from 732.10 points of the previous day.

Business Post reports that the trading volume yesterday went down by 39.7 per cent as investors exchanged 2.2 million units compared with the previous trading day’s 3.7 million units.

However, the value of shares traded at the second session of the week amounted to N55.9 million, 11.9 per cent higher than N50.1 million posted on Monday.

These transactions were carried out in 36 deals, 12.2 per cent lower than the 41 deals executed at the preceding trading day.

It was observed that the NASD OTC bourse recorded a price loser on Tuesday and this was 11 Plc, which went down by 2.3 per cent or N5 to N215 per share from N220 per share it closed on Monday.

Geo Fluids Plc, at the close of business, remained as the most active stock by volume (year-to-date) with 1.0 billion units of its shares traded for N700.1 million. NGX Group Plc traded 447.6 million units valued at N9.1 billion, while Food Concepts Plc traded 297.5 million units worth N387.8 million.

In terms of value, NGX Group Plc led the table with 447.6 million units of securities traded for N9.1 billion, followed by VFD Group Plc with 9.4 million units of its securities valued at N3.1 billion, and Friesland with 8.4 million units valued at N1.0 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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