Unlisted Securities Close Flat Despite NGX Loss

Image

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Thursday, May 21 despite a stock recording a price movement.

The Nigerian Exchange (NGX) Group recorded a 2.4 per cent or 43 kobo decline during the session to close at N18.32 per share as against N18.75 per share of the previous session.

However, this could not sway the unlisted securities market to left or right as it remained static with the key performance indicators closing unchanged when trading activities were concluded yesterday.

Business Post reports that the market capitalisation of the NASD Exchange retained the previous value of N537.47 billion, while the NASD Unlisted Security Index (NSI) remained unchanged at 756.12 points.

But the activity level picked up at the season with the trading volume rising by 159.4 per cent to 4.1 million units from 1.6 million units of the preceding trading day.

Equally, the value of shares exchanged by the market participants appreciated by 130.4 per cent to N34.1 million from N8.3 million recorded at the previous session.

In the same vein, the total number of deals executed went up by 2.9 per cent as 35 deals were performed at the exchange as against the 34 deals printed on Wednesday.

These deals were executed by NGX Group with 24 deals, while FrieslandCampina WAMCO Nigeria Plc with seven deals, Central Securities Clearing Systems (CSCS) Plc with three deals and Afriland Properties Plc with a single deal.

NGX Group maintained its position as the most active stock by volume (year-to-date) for trading 277.7 million units of its shares for N6.2 billion. Swap Technologies & Telecomms Plc retained second place with 46.6 million units worth N41.0 million, while CSCS Plc held the third position with 31.5 million units of its shares worth N494.4 million.

Also, NGX Group closed as the most active stock by value (year-to-date) with 277.7 million units worth N6.2 billion, followed by Niger Delta Exploration and Production (NDEP) Plc with 2.9 million units worth N900.6 million, and Friesland with 6.1 million units valued at N764.1 million.

Share
Related Stories
Image
17-March-2024

Naira Gains at Official Market, Maintains Stability at Black Market

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 15 by 0.4 per cent or N6.23 to close at N1,602.75/$1 compared with the previous day’s value of N1,608.98/$1. It also improved its value against the Pound Sterling in the official market by N11.51 to sell at N2,066.33/£1 compared with the preceding session’s N2,054.82/£1 and against the Euro, it calked up N12.04 to quote at N1,751.58/€1 versus Thursday’s rate of N1,766.62/€1. The value of foreign exchange (FX) trades during the session went down by $106.22 million or 43.6 per

Image
19-March-2024

Brent Jumps to $86 Per Barrel on Low Crude Exports, Stronger Demand

By Adedapo Adesanya  The price of the international crude benchmark, Brent Crude, rose by 88 cents or 1.0 per cent to $86.22 per barrel on Monday, triggered by lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the US. Also, the US West Texas Intermediate (WTI) crude appreciated by $1.01 or 1.3 per cent to $82.05 per barrel, as Iraq, the second-largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), said it would reduce crude exports to 3.3 million barrels a day in the coming months to compensate

Image
19-March-2024

Kebbi Customs Reaffirms Pledge to Facilitate Trade

By Bon Peters The Kebbi State Command of the Nigeria Customs Service (NCS) says it is poised to facilitate legitimate trade as it has reopened the Kamba border in compliance with the directive of the Comptroller General of Customs (CGC), Mr Adewale Adeniyi. The command’s image maker, Mr Mohammed Tajuddeen Salisu, a Superintendent of Customs, in a statement over the weekend, quoted the command’s Area Controller, Mr Iheanacho Ernest Ojike, as saying that Kamba is a strategic border with a major share in Kebbi revenue generation. He insisted that the reopening of the border was aimed at paving the way

More Stories
Image
28-April-2023

NPA MD Claims No Tariff Increase in 30 Years

By Adedapo Adesanya The managing director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has claimed that the agency has not increased its tariffs in 30 years. Speaking on TVC’s Business Segment, Mr Bello-Koko said that the only time the agency increased its tariff was Towage Services, that the authority reviewed sometime around 2012 or 2014. According to Mr Bello-Koko, “The NPA has not increased its tariff since 1993. The rates that we have been using since 1993 are still the same rate that we are using today. “The last time the NPA increased its tariff was in 1993.

Image
23-May-2017

BREAKING: CBN Keeps Interest Rate at 14% as Predicted

By Modupe Gbadeyanka The Central Bank of Nigeria (CBN) has announced leaving its benchmark interest rate at 14 percent as predicted by analysts. This was revealed on Tuesday by the apex bank’s chief, Mr Godwin Emefiele, while briefing newsmen on outcome of the CBN’s Monetary Policy Committee (MPC) meeting held on Monday and Tuesday in Abuja. Before the commencement of the meeting, which holds every quarter, many analysts had said that the banking industry watchdog will not tamper with the Monetary Policy Rate (MPR) despite signs that the economy was on the path to recovery after being down for over

Image
21-May-2018

2019: Itsekiri Students Beg Uduaghan to Contest for Senate

By Modupe Gbadeyanka Former Governor of Delta State, Mr Emmanuel Eweta Uduaghan, has been urged to contest for the Senate in 2019 because he has the experience and capability to bring development to his senatorial district, Delta South. National Association of Itsekiri Students (NAIS), during a visit to the medical doctor turned politician, said with Mr Uduaghan in the Senate in 2019, youths in the region were sure of empowerments based on his past deeds as Governor of the state. The students, during the visit to his Warri residence, thanked Mr Uduaghan for taking care of Delta State students’ welfare

Image
04-May-2022

Lockdown in China Mounts Pressure on Crude Oil Prices

By Adedapo Adesanya Crude oil prices came under pressure on Tuesday as the lockdown in China continues to weigh on the market despite the latest signal that the European Union (EU) is preparing to impose an embargo on Russian oil imports. China’s stringent measures to curb COVID-19 threatened a further hit to economic activity and fuel demand, causing the Brent crude to drop 1.6 per cent or $1.72 to sell at $105.90 per barrel just as West Texas Intermediate (WTI) crude declined by a 1.71 per cent or $1.80 to $103.40 a barrel. The country’s growth concerns are a key

Image
09-December-2021

FG to Make TIN Compulsory for Bank Account Holders

By Modupe Gbadeyanka From 2022, bank account holders in Nigeria will likely have to obtain a tax identification number (TIN) to operate as the Finance Bill sent to the National Assembly by President Muhammadu Buhari is planning to make it mandatory. This move, according to observers, is to expand the tax net of the country in the midst of shrinking revenue and make the Federal Inland Revenue Service (FIRS) pay tax to the government. In his lead debate on Wednesday, the Senate Leader, Mr Yahaya Abdullahi, said the bill, when passed and signed, will make financial institutions request for TIN

Image
11-January-2018

Avalon Renames Renaissance Hotel Ikeja to Radisson Blu Hotel

By Dipo Olowookere Newly launched Renaissance Hotel on GRA Ikeja, Lagos, has now been renamed as Radisson Blu Hotel. This is because promoter of the hospitality facility, Avalon Intercontinental Nigeria Limited, has parted ways with its former partners, the Renaissance Hotel group. Avalon, Business Post gathered, has chosen a new partner, Radisson Blu Hotel, a global hotel chain within the Carlson Rezidor Hotel Group, to run the hotel. Radisson Blu Hotel is one of the world’s fastest growing hotel companies with a portfolio in Africa of 85 hotels and over 17,800+ rooms in operation and under development. A statement issued

Image
15-July-2021

22 Media Innovators from Nigeria, Others to Get $2.1m from Google

By Dipo Olowookere A total of 22 media innovators from Nigeria and other countries from Africa, the Middle East and Turkey have been picked to receive $2.1 million in funding through the second Google News Initiative (GNI) Innovation Challenge. Three media organisations in Nigeria were chosen for the challenge, with Naij.com Media Limited, publishers of the online news platform, Legit.ng, selected for ReCo, a solution that improves Internet user experience by making content recommendations based on user preferences on their home page and within articles. The second media firm from Nigeria was Richmond Hill Media Limited, owners of Ripples Nigeria,

Image
22-October-2020

OPEC Fund, West African Development Bank Boost Cooperation

By Adedapo Adesanya The fund programme of the Organisation of the Petroleum Exporting Countries for International Development (the OPEC Fund) and the West African Development Bank (BOAD) have signed a framework agreement to further strengthen their development cooperation in the member countries of the Western African Economic and Monetary Union (WAEMU). These will involve the eight nations of Benin, Burkina Faso, Côte-d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. The agreement focuses on increased engagement and knowledge-sharing between the two institutions and ensures enhanced cooperation in co-financing public and private sector projects, as well as supporting international trade and regional integration.

Ad
Ad
Recent Stories
Image
19-March-2024

Sahara Group Foundation Donates to Abuja Hospitals

By Modupe Gbadeyanka Three medical facilities in Abuja, the National Hospital, Garki; the Federal Medical Centre, Jabi; and the Maitama District Hospital, Maitama, Abuja, have received some state-of-the-art medical equipment from Sahara Group Foundation. The items were given to the hospitals as part of the foundation’s strategic commitment to sustainability, aiming to enhance the quality of life in its host communities and beyond. The organisation, which is the personal and corporate social responsibility arm of Sahara Group, donated items like Dialysis Machines, ventilators, automatic dialysis chairs, oxygen tanks, ICU medical beds, suction units, monitors, medical beds, ICU medical beds, and

Image
19-March-2024

Kebbi Customs Reaffirms Pledge to Facilitate Trade

By Bon Peters The Kebbi State Command of the Nigeria Customs Service (NCS) says it is poised to facilitate legitimate trade as it has reopened the Kamba border in compliance with the directive of the Comptroller General of Customs (CGC), Mr Adewale Adeniyi. The command’s image maker, Mr Mohammed Tajuddeen Salisu, a Superintendent of Customs, in a statement over the weekend, quoted the command’s Area Controller, Mr Iheanacho Ernest Ojike, as saying that Kamba is a strategic border with a major share in Kebbi revenue generation. He insisted that the reopening of the border was aimed at paving the way

Image
19-March-2024

TikTok, AU Commission Partner for Digital Safety Campaign

By Adedapo Adesanya TikTok and the African Union Commission (AUC) are teaming up to launch the Africa-wide #SaferTogether Campaign, aimed at educating and engaging youngsters, parents, teachers, and community leaders on digital safety through in-app and on-ground activities. The partnership will be carried out by a short-form video app and the African Union Commission’s Women, Gender, and Youth Directorate (WGYD) and is aimed at bolstering online safety awareness among the youth as well as parents, teachers and guardians in Africa. This innovative collaboration emerges at a critical moment, addressing the urgent need for digital safety amidst the unique challenges faced

Image
19-March-2024

Court Dismisses Olu Agunloye’s EFCC Abuse Suit, Orders N500,000 Payment

By Adedapo Adesanya The Federal High Court in Abuja has dismissed a suit filed by a former Minister of Power and Steel, Mr Olu Agunloye, alleging abuse of his fundamental rights and seeking to be shielded from investigation and prosecution by the Economic and Financial Crimes Commission (EFCC). In a statement following the court’s judgement on Monday, the anti-graft agency said the presiding judge, Mr Obiora Egwuatu, dismissed the suit for lacking in merit and awarded a cost of N500,000 against Mr Agunloye in favour of the EFCC. Dismissing the suit, the judge held that Mr Agunloye’s fundamental human right

Image
19-March-2024

International Breweries Wants Approval for $379.9m Loan, Convert to Equity

By Aduragbemi Omiyale An Extra-ordinary General Meeting (EGM) for shareholders of International Breweries Plc to approve the $379.9 million loan to the company from AB InBev Nigeria Holdings BV and convert this to equity is scheduled for Tuesday, April 9, 2024. This was confirmed by a statement signed by the company secretary, Mrs Marian Reginald-Ukwuoma, on Monday. It was disclosed that the meeting would take place at the External Ballroom of the Federal Palace Hotel in Lagos. Business Post gathered that International Breweries obtained a loan of $379.9 million from Citibank Abu Dhabi and AB InBev Nigeria, one of the

Image
19-March-2024

How Putin Won March 2024 Presidential Election

By Kestér Kenn Klomegâh After three days (March 15 to 17) of voting, Vladimir Putin is leading the Russian presidential election with 87.34% after 98% of ballots were counted, according to data from the Russian Central Elections Commission. Undoubtedly it gives Putin, who has been in power since the last days of 1999, another six-year term (2024-2030) to lead Russia, and to pursue with much vigour its foreign policy ambitions in the international system and push forward the much-trumpeted multipolar configuration with a focus on Global South. Putin’s assertive control over the political landscape has been solidified due to the

Image
19-March-2024

Moove Raises $100m in Fresh Race to Conquer New Markets

By Adedapo Adesanya Exactly a year after raising $105 million in an oversubscribed Series A2 round, African mobility company, Moove, has raised $100 million in a Series B funding round as it plots expansion into new markets. According to reports, the funding round was led by mobility giant, Uber and saw injection from others such as sovereign wealth fund Mubadala, The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors, and Future Africa. This now pushes Moove’s post-money valuation to $750 million. The company is helping to solve the continent’s acute problem of limited access to vehicle financing for millions of

Image
19-March-2024

Oil Stocks Trigger 1.77% Gain at NASD OTC Exchange

By Adedapo Adesanya Oil stocks, Aradel Holdings and Acorn Petroleum, led the NASD Over-the-Counter (OTC) Securities Exchange to a 1.77 per cent appreciation on Monday, March 18. They increased the value of the alternative bourse by N24.85 billion during the trading session to N1.428 trillion from the N1.403 trillion it closed in the preceding, and the NASD Unlisted Security Index (NSI) rose by 18.33 points to wrap the session at 1,053.98 points compared with 1,035.65 points recorded at the previous session. Aradel Holdings Plc, after recent profit taking, appreciated by N114.28 yesterday to settle at N1,734.28 per unit compared with last

Image
19-March-2024

Naira Trades N1,597/$1 at Official Market, N1,600/$1 at Black Market

By Adedapo Adesanya The Naira appreciated against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the currency market on Monday by 0.3 per cent or N5.41 to close at N1,597.34/$1 compared with last Friday’s value of N1,602.75/$1. It also improved its value against the Pound Sterling in the official market yesterday by N50.97 to wrap the session at N2,003/£1 compared with the preceding session’s N2,054.06/£1 and gained N41.89 against the Euro to close at N1,712.69/€1 versus N1,754.58/€1. It was observed that the supply of forex, according to data from the FMDQ Securities Exchange, slightly waned

Image
19-March-2024

Brent Jumps to $86 Per Barrel on Low Crude Exports, Stronger Demand

By Adedapo Adesanya  The price of the international crude benchmark, Brent Crude, rose by 88 cents or 1.0 per cent to $86.22 per barrel on Monday, triggered by lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the US. Also, the US West Texas Intermediate (WTI) crude appreciated by $1.01 or 1.3 per cent to $82.05 per barrel, as Iraq, the second-largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), said it would reduce crude exports to 3.3 million barrels a day in the coming months to compensate