NDEP Ties NASD Exchange to Danger Zone by 0.99%

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NASD Exchange

By Adedapo Adesanya 

The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.99 percent on Tuesday, June 9, following the loss printed by one of the bellwethers, Niger Delta Exploration and Production (NDEP) Plc.

This reduced the NASD unlisted securities index (NSI) yesterday by 6.83 points to 682.49 points from Monday’s 689.32 points.

In the same vein, it shortened the market capitalisation by N5.01 billion to N501.34 billion from N506.35 billion it ended the previous day.

Yesterday, the share price of NDEP Plc depreciated by N27.65 or 10.15 percent to close at N272.35 per share in contrast to N300 per share it closed a day earlier.

Recently, the company released its financial statements, where it said the revenue generated in the 2019 fiscal year grew by 16 percent to N46 billion.

At the market on Tuesday, the total volume of securities transacted by investors increased by 24.6 percent to 166,300 shares from the 133,450 stocks recorded at the previous session.

These stocks were traded in four deals executed on NDEP Plc and the transactions amounted to N45.2 million compared with the previous day’s N7.6 million.

At the close of business, ARM Life Plc maintained its position as the most active stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. Central Securities Clearing Systems (CSCS) Plc followed with 195.8 million units traded at N2.6 billion, while Food Concept Plc Plc has transacted 110 million units for N77 million.

In terms of the company with the highest trades by value (year-to-date), ARM Life Plc still retained the top spot with 7.4 billion units worth N4.6 billion. CSCS Plc followed with 195.8 million units valued at N2.6 billion, while NDEP Plc has traded 7.8 million units worth N2.4 billion.

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