By Adedapo Adesanya
Unlisted stocks in Nigeria on Wednesday appreciated by 0.12 per cent and the expansion was driven by Niger Delta Exploration and Production (NDEP) Plc.
The share price of the company increased by N3.46 or 1.2 per cent to close the session at N300 per share in contrast to N296.54 per share of the previous session.
This pushed the market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange higher by N620 million to N538.51 billion from N537.89 billion.
Equally, the NASD Unlisted Securities Index (NSI) rose by 0.89 points to 757.61 points from 756.72 points as a result of the effect of NDEP on the market.
Business Post reports that the unlisted securities market recorded a price loser yesterday and this was the Nigerian Exchange (NGX) Group Plc. Its equity price went down by 1.2 per cent or 24 kobo to close at N20.49 per unit compared to N20.73 per unit of the previous session.
On the activity chart, the total volume of shares traded by investors went up by 215.2 per cent to 4.1 million units from 1.3 million units recorded on Tuesday.
However, the value of the transactions reduced by 18.2 per cent as shares worth N27.9 million were transacted in contrast to the preceding day’s N34.1 million.
These trades were executed in 28 deals compared to the 37 deals carried out at the second trading session of the week.
NGX Group accounted for 22 deals, NDEP accounted for two deals, while FrieslandCampina WAMCO Nigeria Plc, Lighthouse Financial Services Plc, Central Securities Clearing Systems (CSCS) Plc and Acorn Petroleum Plc accounted for one deal each.
When trading activities were wrapped up for the day, NGX Group remained as the most active stock by volume (year-to-date) with 243.2 million units sold for N5.6 billion. Swap Technologies & Telecomms Plc was in second place with 46.6 million units worth N41.0 million, while CSCS Plc held the third position with 28.9 million units worth N449.4 million.
In terms of value (year-to-date), NGX Group was also on top of the chart with 243.2 million units traded for N5.6 billion but was trailed by NDEP Plc with 2.8 million units valued at N879.5 million and Friesland with 5.7 million units valued at N724.5 million.
Modupe Gbadeyanka