Connect with us

Economy

NGX Group, Food Concepts Rescue NASD Exchange by 0.07%

Published

on

NGX Group Shares

By Adedapo Adesanya

The buying and selling of unlisted stocks at the NASD Over-the-Counter (OTC) Securities Exchange closed on a positive note on Friday with a marginal 0.07 per cent growth.

This was largely driven by the gains posted by Nigerian Exchange (NGX) Group Plc and Food Concepts Plc as the former appreciated by 14 kobo or 1.1 per cent to close at N13.17 per share compared with the previous N13.03 per share, while the latter grew by 8 kobo or 8.8 per cent to settle at 91 kobo per unit in contrast to 83 kobo per unit it traded on Wednesday.

At the close of business yesterday, the market capitalisation of the NASD Exchange increased by N460 million to N637.16 billion from N636.70 billion, while the NASD Unlisted Security Index (NSI) rose by 0.52 points to 733.06 points from 732.54 points.

Business Post reports that the unlisted securities market witnessed a lone price loser yesterday and it was NASD Plc, losing 64 kobo or 5.49 per cent to close at N11.01 per unit compared with the preceding day’s N11.65 per unit.

During the session, investors bought and sold a total of 5.9 million stocks compared with the 8.3 billion stocks transacted a day earlier, showing a 99.9 per cent decline in the volume of trades.

In the same vein, market participants transacted shares valued at N10.1 million in contrast to shares worth N10.4 billion traded on Wednesday, indicating a decline of 99.9 per cent, while the number of deals went down by 32.1 per cent to 19 deals from the previous day’s 28 deals.

Food Concepts Plc closed the session as the most traded stock by volume on a year-to-date basis with 11.4 billion units worth N14.4 billion. Geo Fluids Plc traded 1.0 billion units valued at N700.1 million, while NGX Group Plc has exchanged 454.9 million units for N9.2 billion.

Also, Food Concepts Plc remained as the most traded stock by value on a year-to-date basis with 11.4 billion units sold for N14.4 billion, NGX Group Plc followed with 454.9 million units worth N9.2 billion, while VFD Group Plc took the third spot with 10.4 million units valued at N3.5 billion.

The market will not trade on Friday, October 1 which has been declared as a public holiday to celebrate the country’s 61st Independence Day.

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.

Click to comment

Leave a Reply

Economy

Investors Gain N1.09bn as NASD Share Price Rises 9.1%

Published

on

NASD Exchange

By Adedapo Adesanya

The unlisted securities market closed the last trading session of the week on a positive note after it appreciated by 0.18 per cent on the back of growth in the share price of NASD Plc.

Business Post reports that the NASD Over-the-Counter (OTC) Securities Exchange returned to the bulls’ territory on Friday after it closed flat on Thursday.

NASD Plc was the major driver of the return of the bourse to the green region as its value went up during the session by N2.45 or 9.1 per cent to close at N26.99 per unit in contrast to N24.54 per unit it closed at the previous session.

As a result of this, the NASD unlisted security index (NSI) moved up by 1.32 points to 745.44 points from 744.12 points, while the market capitalisation gained N1.09 billion to wrap the day at N615.86 billion in contrast to the previous day’s N614.77 billion.

On the activity chart, there was an improvement as the trading volume surged by 34,985.6 per cent because of the 2.3 million units of shares exchanged by market participants compared with the 6,688 units transacted at the previous session.

In the same vein, the trading value rose by 17,680.6 per cent to N63.4 million from the previous day’s N356,563.60, while the number of deals witnessed a 100 per cent rise as investors carried out 12 deals compared to the six deals executed at the previous session.

At the close of trades, Food Concepts Plc was the most traded stock by volume (year-to-date) with 11.4 billion units of its shares worth N14.4 billion, Lighthouse Financial Service Plc followed with 1.1 billion units valued at N546.2 million, while Geo Fluids Plc was in third place with 1.0 billion units worth N700.1 million.

Food Concepts Plc was also the most traded stock by value on a year-to-date basis with 11.4 billion units worth N14.4 billion, trailed by Nigerian Exchange (NGX) Group Plc with 456.4 million units valued at N9.2 billion, VFD Group Plc with 10.4 million units valued at N3.5 billion.

Continue Reading

Economy

Naira Trades N414.73/$1 as Cryptos Bleed Heavily

Published

on

Cryptos

By Adedapo Adesanya

The Naira appreciated against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market by 0.02 per cent or 7 kobo on Friday, December 4.

Data showed that the local currency was sold for N414.73/$1 at the investors’ window yesterday compared with the N414.80/$1 it traded on Thursday.

At the final trading session of the week, the turnover was $103.01 million as against $139.67 million achieved at the preceding session, indicating a $36.66 million or 26.62 per cent decline.

Also, the exchange rate of the Naira to the United States currency recorded a movement on Friday, though downward as the Nigerian currency depreciated by 4 kobo as it closed at N411.74/$1 versus the preceding day’s N411.70/$1.

The local currency, however, appreciated by N2.17 against the British Pound Sterling to settle at N546.26/£1 compared to N548.43/£1 it traded at the previous trading session and 57 kobo against the Euro to trade at N465.68/€1 compared to the preceding day’s N466.25/€1.

At the cryptocurrency market, investors counted a heavy loss as the new variant of the coronavirus called Omicron and hawkish comments by the US Federal Reserve that it could raise interest rates have raised serious concerns, causing cryptos to bleed heavily.

The heaviest loss was suffered by Dash (DASH), which plunged by 35.3 per cent to sell for N66,595.85. Ripple (XRP) depreciated 30.6 per cent to trade at N381.85, while Litecoin (LTC) sold for N66,595.85 after declining by 24.1 per cent.

Dogecoin (DOGE) went down by 22.7 per cent to sell at N90.29, Cardano (ADA) depreciated by 20.8 per cent to N652.82, Bitcoin (BTC) depleted by 16.9 per cent to quote at N26,800,504.20, Ethereum (ETH) equally saw a 16.9 per cent depreciation to trade at N2,100,100.39, Binance Coin (BNB) recorded a 12.9 per cent depreciation to trade at N218,577.24, Tron (TRX) went down by 12.7 per cent to trade at N48.00, while the US Dollar Tether (USDT) recorded a 0.1 per cent marginal loss to sell for N554.76.

Continue Reading

Economy

Crude Mixed as Market Remains Unsettled by Omicron Jitters

Published

on

Crude Oil Prices

By Adedapo Adesanya

Crude prices closed mixed on Friday, December 3 after erasing earlier big gains on growing worries that rising coronavirus cases and a new variant could reduce global oil demand.

Brent crude gained 21 cents or 0.3 per cent to trade at $69.88 per barrel while on the other hand, the United States West Texas Intermediate (WTI) crude lost 24 cents or 0.36 per cent to sell at $66.26 per barrel.

Both benchmarks declined for a sixth week in a row for the first time since November 2018.

Oil prices had witnessed one of the most troubled weeks as the market reeled from the fear brought about by the Omicron variant of the coronavirus with speculations that it could spark new lockdowns and dent fuel demand.

The World Health Organization (WHO) urged countries to vaccinate their people to fight the virus, saying travel curbs were not the answer.

Even with this, the Organisation of the Petroleum Exporting Countries and allies (OPEC+) surprised the market on Thursday when it stuck to its plans to add 400,000 barrels per day supply in January.

However, it said it will continue to monitor the market and this could make it change course if demand suffered from measures to contain the spread of the Omicron coronavirus variant.

The alliance said they could meet again before their next scheduled meeting on January 4.

Analysts noted that with the coronavirus cases rising, the US jobs report for November also didn’t help demand outlook even as the unemployment rate plunged to a 21-month low of 4.2 per cent, suggesting the country’s labour market was rapidly tightening.

US employment growth slowed considerably in November amid job losses at retailers and in local government education.

Meanwhile, in Vienna, diplomats attempting to restore the nuclear deal between Iran and world powers face substantial challenges that need urgent solutions, the top European envoy said Friday. Talks are set to resume next week.

Continue Reading

Like Our Facebook Page

Latest News on Business Post

Trending

%d bloggers like this: