NDEP, Two Others Pull Down NASD Exchange by 0.62%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange went down by 0.62 per cent on Tuesday, October 5 on the back of profit-taking in three companies on the platform.

Niger Delta Exploration and Production (NDEP) Plc led the losers yesterday after its value went down by N20 or 8.0 per cent to close at N250 per share in contrast to N270 per share it closed on Monday.

Central Securities Clearing Systems (CSCS) Plc, on its part, fell by 30 kobo or 1.2 per cent to close the session at N16.20 per share in contrast to N16.50 per share it traded at the preceding session, while Swap Technologies & Telecomms Plc depreciated by 7 kobo or 10.9 per cent to settle at 64 kobo per unit compared with the previous closing price of 71 kobo per unit.

The losses printed by the trio pushed down the gains posted by the duo of NASD Plc and Nigerian Exchange (NGX) Group Plc on Tuesday.

NASD Plc appreciated by 59 kobo or 5.1 per cent to close the session at N11.60 per share in contrast to N11.01 per share of the earlier day, while NGX Group Plc gained 31 kobo or 2.2 per cent to close at N13.86 per unit compared to N13.55 per unit of the last trading session.

At the close of business, the market capitalisation of the NASD exchange fell by N3.95 billion to N633.96 billion from N637.91 billion, while the NASD Unlisted Security Index (NSI) dropped 4.54 points to 729.38 points from 733.92 points.

A look at the activity chart of the session showed that the volume of securities traded by investors increased by 1,130 per cent to 5.4 million units from the previous day’s 441,212 units, while the value of shares rose by 306.6 per cent to N25.8 million from Monday’s N6.4 million, with the number of deals growing by 208.3 per cent to 37 deals from 12 deals executed a day earlier.

Food Concepts Plc closed the Tuesday session as the company with the highest volume of shares transacted on a year-to-date basis with 11.4 billion units worth N14.4 billion. Geo Fluids Plc trailed with 1.0 billion units valued at N700.1 million, while NGX Group Plc was in third place with 455.7 million units worth N9.2 billion.

In terms of value, Food Concepts Plc also topped the chart for trading 11.4 billion units worth N14.4 billion, NGX Group Plc trailed with 455.7 million units worth N9.2 billion, while the third, VFD Group Plc, has exchanged 10.4 million units for N3.5 billion.