NDEP Weakens Unlisted Securities Market by 0.55%
By Adedapo Adesanya
Trading in unlisted securities on the floor of the NASD Over-the-Counter (OTC) Securities Exchange was bearish on Thursday, September 24.
The negative price movement of Niger Delta Exploration and Production (NDEP) Plc contributed to the 0.55 per cent decline suffered by the market.
The share price of the company shed N18.20 or 5.83 per cent to close the session at N312.38 per share in contrast to N330.58 per share it closed at the previous session.
The slide in the stock value of the energy company led to the decline in the NASD Unlisted Securities Index (NSI) by 4.02 points to 723.01 points from 727.03 points of the previous day.
It equally contributed to the reduction in the market capitalisation of the bourse by N2.95 billion to N531.10 billion from N534.05 billion on Wednesday.
Business Post reports that a total of 1.03 million units of shares were transacted on Thursday at the NASD OTC market in five deals compared to 1.01 million units in the previous day.
These trades were recorded from NDEP Plc which had three deals while FrieslandCampina WAMCO Nigeria Plc and Food Concepts Plc posted one deal each.
The transactions around these three companies improved the value of transactions yesterday by 351.6 per cent to N10.3 million from N2.3 million realised on Wednesday.
As at the close of business on Thursday, ARM Life Plc remained the most active stock (year-to-date) at the bourse for trading 7.4 billion units of its shares for N4.6 billion.
CSCS Plc was in second place with 202.9 million units worth N2.7 billion, while Food Concepts Plc held the third position with 128.1 million units of its shares worth N90.2 million.
The underwriter also retained the top spot for the most active stock by value (year-to-date) for trading 7.4 billion units of securities valued at N4.6 billion.
NDEP Plc remained in the second spot with 8.8 million units of its securities valued at N2.7 billion followed by CSCS Plc with 202.9 million units valued at N2.7 billion.