NDEP, Two Others Buoy Unlisted Bourse by 0.34%

May 16, 2023
NDEP further revenue diversification

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to positive territory as it rose by 0.34 per cent on Monday, May 15.

This pushed the NASD market capitalisation higher by N3.42 billion from the N1.001 trillion it quoted at the previous session to N1.005 trillion.

This also raised the NASD Unlisted Securities Index (NSI) by 2.48 points to end the day at 726.74 points as against the 726.74 points it recorded in the previous session.

The bullishness came as three securities – Niger Delta Exploration and Production (NDEP), FrieslandCampina WAMCO Nigeria Plc, and Afriland Plc lifted the market index and valuation.

NDEP Plc expanded by N20.44 to end the day at N231.00 per share compared with the previous day’s N210.56 per share, FrieslandCampina Wamco Plc improved by 55 Kobo to close at N70.47 per unit against N69.92 per unit, and Afriland Properties Plc gre by 10 Kobo to sell at N2.50 per share versus the previous session’s N2.40 per share.

There was a jump in the volume of securities traded at the session by 19,927.2 per cent as investors exchanged 6.5 million units compared with the 32,464 units transacted by market participants in the previous session.

Equally, there was a northward movement in the value of shares traded at the bourse by 239,706.4 per cent to N451.4 million from the N188,237.60 made previously.

These transactions were carried out in 22 deals from the four deals executed in the preceding trading session, representing a 450 per cent surge.

Geo-Fluids Plc remained the most traded stock by volume (year-to-date) with 830.9 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units worth N49.4 million, while UBN Property Plc was in third place with 390.9 million units valued at N332.0 million.

VFD Group Plc was the most traded stock by value (year-to-date) with 10.4 million units worth N2.4 billion, Geo-Fluids Plc followed with 830.9 million units worth N1.3 billion, while FrieslandCampina Wamco Nigeria Plc was in third place with 12.0 million units valued at N844.5 million.

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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