By Adedapo Adesanya

The NASD Over-the-Counter (OTC) recorded a 0.67 per cent appreciation on Thursday, November 28, with the portfolios of investors on the platform rising by N7.09 billion to N1.061 trillion from the N1.053 trillion it closed in the preceding session and the NASD Unlisted Security Index (NSI) growing by 20.22 points to wrap the session at 3,026.60 points compared with 3,006.38 points recorded on Wednesday.

This happened after the unlisted securities market finished the trading session with three price gainers and two price losers.

Afriland Properties Plc gained N1.58 to end at N17.39 per unit compared with the midweek’s closing price of N15.81 per unit, as Acorn Petroleum Plc improved its value by 14 Kobo to close at N1.69 per share, in contrast to the previous day’s N1.55 per share, and Central Securities Clearing System (CSCS) Plc went up by N1 to sell for N23.00 per unit compared with the preceding session’s N22.00 per unit.

On the flip side, First Trust Microfinance Bank Plc lost 4 Kobo to finish at 32 Kobo per share versus Wednesday’s closing price of 36 Kobo per share and Geo-Fluids Plc slumped by 3 Kobo to sell at N3.90 per unit compared to N3.93 per unit it was sold a day earlier.

There was a 191.9 per cent rise in the volume of securities traded in the session as investors exchanged 2.9 million units compared with the previous trading day’s 1.0 million units.

Equally, there was a 283.9 per cent surge in the value of shares traded yesterday to N7.9 million from the N2.1 million recorded in the previous day, and the number of deals increased by 300 per cent to 12 deals from the three deals executed in the preceding day.

At the close of transactions, Geo-Fluids Plc was the most active stock by volume (year-to-date) with 1.7 billion units valued at N3.9 billion, trailed by Okitipupa Plc with 752.2 million units sold for N7.8 billion, and Afriland Properties Plc with 297.3 million units worth N5.3 million.

Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 billion.

By Adedapo Adesanya

The value of the Naira rose against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by 0.96 per cent or N15.97 to exchange at N1,644.86/$1 on Thursday, November 28 compared with the preceding day’s N1,660.83/$1 amid a surge in FX transactions.

Data showed that the forex turnover increased during the session by 66.2 per cent or $223.27 million to $560.34 million from the $337.07 million recorded at the midweek trading session.

However, the domestic currency weakened against the Pound Sterling in the official market by N8.42 to sell at N2,124.86/£1 compared with the preceding session’s N2,116.44/£1 but appreciated against the Euro by N10.18 to quote at N1,773.18/€1 versus midweek’s closing rate of N1,783.36/€1.

A look at the parallel market showed that the Nigerian currency traded flat against its American counterpart yesterday at N1,750/$1.

Meanwhile, cryptocurrencies were largely positive as Ripple (XRP) rose by nearly 6 per cent, precisely by 5.9 per cent to trade at $1.56to as Thanksgiving holiday saw the market avoid a feared historical massacre.

Traders said the Japanese Yen briefly crossed 150 against the Dollar due to expectations of a Bank of Japan (BOJ) rate increase in December, spurred by higher-than-expected inflation data.

The movement was also likely spurred by month-end financial adjustments and low liquidity due to Thanksgiving.

Further, Cardano (ADA) went up by 3.4 per cent to trade at $1.04, Solana (SOL) jumped by 1.1 per cent to quote at $241.14, Bitcoin (BTC) went up by 0.8 per cent to settle at $95,661.36 and Binance Coin (BNB) grew by 0.2 per cent to finish at $654.44.

On the flip side, profit-taking in Dogecoin (DOGE) saw its price down by 0.5 per cent to sell at $0.4054, Litecoin (LTC) depreciated by 0.5 per cent to quote at $96.36, and Ethereum (ETH) depleted by 0.4 per cent to end the session at $3,578.26, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.

By Adedapo Adesanya

Oil prices surged on Thursday after Israel and Lebanese armed group Hezbollah traded accusations that their ceasefire had been violated, and as Israel tanks fired on south Lebanon.

This pushed Brent crude futures higher by 30 cents or 0.4 per cent to $73.13 per barrel as the US West Texas Intermediate (WTI) crude futures increased by 23 cents 0.3 per cent to trade at $68.93 a barrel.

However, trading was thin because of the US Thanksgiving holiday.

The market had expected that the ceasefire would cool some risk but Israel’s military said the ceasefire was violated after what it called suspects, some in vehicles, arrived at several areas in the southern zone.

The deal, which took effect on Wednesday, was intended to allow people in both countries to start returning to homes in border areas after 14 months of fighting.

Meanwhile, the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) delayed a crucial meeting for a few days, which is likely to extend production cuts.

The group pushed its next policy meeting to Thursday, December 5 from December 1 to avoid a conflict with another event.

Members were discussing a further delay to a planned oil output hike that was due to start in January, to help prop up prices.

It will also be the last meeting that the 22-member group will hold before Donald Trump will assume office as the next US President in January.

There are expectations of potential risk to Iran’s supply from sanctions that might be implemented under the Trump administration.

The group pumps about half the world’s oil but has maintained production cuts to support prices. It hopes to unwind those cuts, but weak global demand has forced it to delay the start of gradual increases.

Slowing fuel demand growth in top consumers the US and China has weighed heavily on oil prices this year, although supply curtailments from OPEC+ have helped to limit the losses.

This was seen as US petrol stocks rose 3.3 million barrels in the week ended on November 22, the US Energy Information Administration (EIA) said on Wednesday.