Unlisted Securities Index Maintains Upward Trajectory by 0.13%

Image

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed bullish by 0.13 per cent on Tuesday, August 30 buoyed by Niger Delta Exploration and Production (NDEP) Plc.

This increased the NASD Unlisted Securities Index (NSI) by 1.00 points during the session to 763.49 points as against the 762.49 points it recorded in the previous session. In the same vein, the market capitalisation of the exchange rose by N1.32 billion to close at N1.005 trillion in contrast to the N1.003 trillion it finished on Monday.

Business Post reports that the share price of NDEP Plc improved yesterday by N7.28 to close at N197.78 per unit against N190.50 per unit of the preceding day.

It was observed that the activity level was very low on Tuesday as traders only bought and sold 34,119 units of securities, 73.2 per cent lower than the 127,323 units of securities transacted by market participants previously.

Likewise, there was a 5.4 per cent slide in the value of shares traded yesterday to N5.6 million from the preceding day’s N5.9 million, while the number of deals decreased by 45.5 per cent to six deals from the previous session’s 11 deals.

When the market closed for the day, the most active stock by volume on a year-to-date basis was still AG Mortgage Bank Plc with the sale of 2.3 billion units valued at N1.2 billion. Central Securities Clearing System (CSCS) Plc stood in second place with 686.6 million units worth N14.2 billion, while Food Concepts Plc was in third place with 147.8 million units valued at N128.4 million.

Similarly, CSCS Plc maintained its spot as the most traded stock by value (year-to-date) with a turnover of 686.6 million units worth N14.2 billion, VFD Group Plc was in second place with 24.5 million units valued at N6.6 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place for trading 14.1 million units valued at N1.7 billion.

Share
Related Stories
Image
21-February-2024

Peter Obi Fumes as CBN Hikes Cargo Clearing Rate to N1,605/$1

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has once again increased the exchange rate for customs cargo clearance by 9 per cent or N133.06 from N1,472.76/$1 to N1,605.82/$1. The new rate, which has already been reflected on the Nigeria Customs Service (NCS) portal, will further dampen the hope of importers, and trigger an increase in the price of imported products like food, fuel, spare parts, and phones, among others. The CBN had recently reduced the exchange rate from N1,515.48/$1 to N1,472.756/$1 after the market eased following some recent policy steps. This review will be the 12th since the

Image
21-February-2024

Nigerian Stock Market Further Falls by 1.30% Amid Panic Selling

By Dipo Olowookere The Nigerian Exchange (NGX) Limited witnessed panic selling from investors on Tuesday as the foreign exchange (FX) market continued to dampen mood. The free fall of the exchange rate of the Naira to the Dollar in the currency market is making Naira-denominated investments unattractive and yesterday, it further inflicted a 1.30 per cent loss to the equity market. It was observed that traders sold off some of their blue-chip equities, particularly in the financial and industrial goods sectors. Business Post reports that the insurance index went down by 3.89 per cent, the industrial goods counter lost 3.62

Image
21-February-2024

Verod Capital Buys 65% Stake in i-Fitness from CardinalStone

By Aduragbemi Omiyale The popular fitness and gym chain, i-Fitness, now has a new investor and it is Verod Capital Management, a private equity company. Verod Capital has become a major shareholder in i-Fitness, which has branches across the country, including in Lagos and Abuja, courtesy of CardinalStone Capital, another private equity firm. Cardinal Stone divested its 65 per cent stake and this was acquired by Verod Capital in a deal said to be worth about $12 million, according to TechCabal. i-Fitness, valued at $18.5 million, was established in 2015 by Mr Folusho Ogunwale and the organisation has grown to

Image
21-February-2024

Oil Prices Slide on Global Demand Worries

By Adedapo Adesanya Oil prices settled lower on Tuesday, with worries about global demand offsetting price support from the Israel-Hamas conflict, causing the Brent futures to lose $1.22 or 1.5 per cent to sell at $82.34 a barrel, as the US West Texas Intermediate (WTI) crude shed $1.30 or 1.4 per cent to trade at $77.04 a barrel. The crude oil market was lower following the quiet trading over the Presidents’ Day holiday in the US and as demand concerns offset ongoing Middle Eastern geopolitical tensions. Shipping has been impacted by escalating attacks on shipping lanes in the Red Sea

More Stories
Image
16-October-2017

UBA Grows Profit by 23% to N61b in 9 Months

By Modupe Gbadeyanka United Bank for Africa (UBA) Plc has continued to prove that no matter the storm, it would remain stronger, better and bigger. The lender, in its condensed consolidated statements of comprehensive income for the first nine months of 2017 ended September 30, recorded a grew its profit by 23 percent. Specifically, the profit after tax of the pan-African bank increased to N61 billion in the period under review from N49.5 billion in the corresponding period of 2016, while its profit before income tax stood at N78.3 billion as at September 30, 2017 against N58.8 billion as at

Image
29-April-2023

Zenith Bank Grows Gross Earnings by 41% in Q1 2023

By Aduragbemi Omiyale Zenith Bank maintained its impressive performance in the first quarter of 2023 as its gross earnings improved by 41 per cent to N270.0 billion from the N191.5 billion achieved in the same period of last year. Details of its unaudited financial statements for the period which ended March 31, 2023, showed that the significant double-digit growth was driven by substantial increases in both interest income and non-interest income. Analysis of the results indicated that the interest income surged by 52 per cent to N191.6 billion from N126.4 billion in Q1 2022, while non-interest income expanded by 27

Image
04-January-2017

Naira Closes N490/$ on Parallel Market

By Dipo Olowookere On the first trading of the year on Tuesday, the Nigerian local currency, Naira, exchanged for 490 to a Dollar on the parallel market. It was the same rate it closed on the last working day of 2016. It was a similar situation at the official interbank window, where the currency closed at N305 a Dollar on the official window. It had initially exchanged at N315.50 to the Dollar but gained after the Central Bank of Nigeria (CBN) sold $1.5 million in the market. The Naira lost around a third of its official value against the Dollar

Image
31-August-2023

TU Experts Compiled the List of the Best Forex Brokers in Zambia for 2023

Selecting the right broker is crucial for trading in financial markets as it directly impacts the security of funds, potential profits, and trading opportunities. Traders in Zambia can make an informed choice by assessing brokers comprehensively. TU analysts have conducted a review of the Best Forex Brokers in Zambia for 2023, comparing and selecting five popular companies in the country. Exploring the best brokers in Zambia The experts at Traders Union have conducted a comparative analysis of a number of Forex brokers in Zambia. Below are some of the top-rated Forex brokers in Zambia: RoboForex RoboForex offers attractive bonus programs,

Image
12-December-2020

The Joseph Goebbels in Government Spokespersons

By Jerome-Mario Utomi In 1978, the Public Relations professionals across the globe gathered in Mexico to among other aims chart a course and stir the ship of public relations practice. The gathering proposed and adopted a highly influential definition of public relations which it tagged The Mexican statement. It says “public relations practice is the art and social science of analysing trends, predicting their consequences, counselling organisation leaders and implementing planned programmes of action which will serve both the organisation and the public interest. It has since become the most acceptable definition of public relations and assumed a guiding compass

Image
11-September-2020

Unlisted Securities Market Down by 1.04%

By Adedapo Adesanya Securities of the Central Securities Clearing Systems (CSCS) Plc depreciated at the unlisted securities market on Thursday, closing as the day’s sole decliner. The Nigerian securities depository company had its share price going down by N1.10 or 7.4 per cent to close at N13.85 per share versus N14.95 per unit of the previous day. The poor performance of the stocks weakened the NASD Unlisted Security Index (NSI) by 7.49 points or 1.04 per cent to 714.44 points from 721.93 points quoted a day earlier. Equally, it reduced the market capitalisation by 1.04 per cent or N5.5 billion

Image
25-June-2022

NASD Exchange Closes Last Day of the Week 0.42% Higher

By Adedapo Adesanya The last trading session of the week on the NASD Over-the-Counter (OTC) Securities Exchange closed on a positive note on Friday by 0.42 per cent. This was influenced by the gains recorded by Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing System (CSCS) Plc. NDEP grew during the day by N18 or 10 per cent to close at N198.00 per unit compared to the previous day’s N180.00 per unit, while CSCS Plc rose by 20 kobo or 1.37 per cent to close at N14.80 per unit as against the N14.60 per unit it was previously

Image
25-May-2020

Africa Day: APRA President Tasks Leaders on Local Solutions

By Modupe Gbadeyanka President of the African Public Relations Association (APRA), Mr Yomi Badejo-Okusanya, has advised the continent’s leaders to look inwards for homegrown solutions rather than waiting for foreign aids from the West. Mr Badejo-Okusanya made this passionate call in commemoration of the annual Africa Day celebrated on Monday, May 25, 2020. According to him, “Since inception, the need for Africa to stand together cannot be more acute than the present when the continent faces a global pandemic that has left every part of the world struggling for its own survival, with little room or thought for us.” “But

Ad
Ad
Recent Stories
Image
22-February-2024

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,

Image
22-February-2024

AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views

By Adedapo Adesanya Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed. According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent. Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers

Image
22-February-2024

Two Die, 15 Rescued in Ikoyi-Lekki Link Bridge Boat Mishap

By Modupe Gbadeyanka Two persons have been confirmed dead in a boat accident that occurred on Wednesday night at the Ikoyi-Lekki Link bridge in Lagos. The Lagos State Emergency Management Agency (LASEMA), which confirmed the incident, stated that 15 persons were rescued in the mishap. The agency stated that the boat, which was conveying 17 passengers, was heading to the Ikorodu area of the metropolis from its take-off point, Sandfil, when it capsized at the Powerline area of the popular bridge. It said the body of a female passenger, who drowned, was recovered, while the corpse of the male passenger

Image
22-February-2024

NPPAN Targets $10bn Contribution to Nigeria’s GDP via Palm Biomass

By Adedapo Adesanya The federal government will sign a Memorandum of Understanding (MoU) with the Malaysian government to develop palm biomass in the country as part of efforts to utilise one of the undertapped farm produces in the country. Mr Alphosus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), made this disclosure, saying palm biomass is a multi-billion dollar economy. “Biomass simply means agricultural waste and we are talking about turning waste into wealth,’’ he said in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The president said NPPAN was working with

Image
22-February-2024

Salesforce Introduces Clean Energy Programme Management

By Modupe Gbadeyanka A new solution to help electric, gas, and water utilities increase customer participation in clean energy programmes has been introduced by Salesforce. The initiative known as Clean Energy Programme Management for Energy & Utilities Cloud streamlines the launch, management, and oversight of energy efficiency, conservation, electrification, and EV charging programs. It helps utilities manage clean energy initiatives with connected data — like energy usage and billing information — and personalised engagement to promote relevant programmes. This platform also digitises and simplifies the application process for customers, participating contractors, and utility program staff to help increase clean energy

Image
22-February-2024

Dangote Sugar to Borrow N50bn from Commercial Paper Sales

By Aduragbemi Omiyale The management of Dangote Sugar Refinery Plc is requesting about N50 billion from capital market investors for its short-term working capital and funding requirements. The sugar miller will get the funds from investors through the sale of commercial papers and has promised to repay in about nine months’ time. The CP sales will be conducted under its N150 billion commercial paper issuance programme approved by the regulatory authorities. It is the first series the company is selling this time and it specifically has a tenor of 266 days with a discount rate of 15.92 per cent and

Image
22-February-2024

NASD Unlisted Security Index Depreciates by 0.77%

By Adedapo Adesanya A 0.77 per cent loss was suffered by the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, February 21 following profit-taking in three stocks. Aradel Holdings Plc went down by N49.50 during the session to close at N2,476.50 per share versus the previous day’s N2,526.00 per share, Central Securities Clearing System (CSCS) Plc depreciated by 37 Kobo to end the day at N19.63 per unit compared with Tueday’s closing price of N20.00 per unit, and FrieslandCampina Wamco Nigeria Plc deflated by 7 Kobo to settle at N74.43 per share, in contrast to the N74.50 per share it traded

Image
22-February-2024

Naira Appreciates at Official Market, Falls at Black Market

By Adedapo Adesanya The Naira appreciated against the United States Dollar in the official market and the and the peer-to-peer (P2P) windows of the foreign exchange (FX) market but depreciated in the parallel market on Wednesday, February 21 as several scare tactics to ease the weakening local currency continues. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the domestic currency gained 0.6 per cent or N8.66 on the greenback to close at N1,542.58/$1 compared with the previous day’s N1,551.24/$1. However, the Naira maintained stability against the Pound Sterling and the Euro in the spot market in the midweek session at

Image
22-February-2024

Crude Oil Jumps as Geopolitical Tensions Persist

By Adedapo Adesanya Crude oil appreciated on Wednesday as geopolitical tensions continued in the Middle East and traders assessed signs of near-term supply tightness. Brent crude was up by 69 cents or 0.8 per cent to $83.03 a barrel while the US West Texas Intermediate (WTI) crude jumped by 87 cents or 1.1 per cent to settle at $77.91 per barrel. Houthi attacks on commercial vessels in the Red Sea and Bab al-Mandab strait have continued to stoke concerns over freight flows through the critical waterway. The Iran-aligned Yemeni Houthis have carried out repeated drone and missile strikes since November in

Image
22-February-2024

Investors Recover N165bn as FBN Holdings, BUA Cement, Others Gain

By Dipo Olowookere The bulls recaptured the Nigerian Exchange (NGX) Limited on Wednesday after the bears dominated for two straight days as a result of panic selling due to the macroeconomic environment, especially with the poor performance of the Naira in the foreign exchange (FX) market. During the midweek session, the local bourse finished higher by 0.30 per cent on renewed bargain-hunting activities by investors. This raised the market capitalisation of the domestic exchange by N165 billion to N55.464 trillion from N55.299 trillion, as the All-Share Index (ASI) grew by 301.71 points to 101,362.38 points from 101,060.67 points. Business Post