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Securities on NASD Trading Platform Gain 0.64% | Business Post Nigeria – Business Post Nigeria

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By Adedapo Adesanya
Stocks admitted to the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.64 per cent on Tuesday.
The NASD trading platform recorded growth in both its main index and the market capitalisation, unlike the previous day when the exit of Nigerian Exchange (NGX) Group Plc caused the market to close mixed.
At the close of transactions yesterday, the NASD Unlisted Security Index (NSI) went higher by 4.74 points to 745.44 points from 740.70 points, while the total of securities increased by N3.91 billion to N615.86 billion from N611.95 billion.
The day ended positively as a result of the upward movements in the prices of NASD Plc and Central Securities Clearing Systems (CSCS) Plc as the former rose by 76 kobo or 6.3 per cent to N12.00 per unit from N11.24 per unit, while the latter jumped by 72 kobo or 4.1 per cent to N17.72 per share from N17 per share.
Business Post reports that the market was not without a price loser as the stocks of Afriland Plc went down by 2 kobo or 1.9 per cent to close at N1.03 per unit compared to N1.05 per unit it closed on Monday.
A look at the level of activity showed that the volume of securities traded at the bourse by investors increased by 247.1 per cent to 991,482 units from the 285,650 units achieved a day earlier.
Also, the value of shares transacted by market participants recorded a 382.1 per cent surge as investors traded securities worth N24.4 million in contrast to the N5.1 million posted on Monday.
These trades were carried out in 10 deals, 9.1 per cent lower than the 11 deals executed at the first trading session of this week.
Food Concepts Plc maintained its position as the most traded stock by volume on a year-to-date basis with a turnover of 11.4 billion units valued at N14.4 billion, followed by Geo Fluids Plc with a turnover of 1.0 billion units worth N700.1 million and the now-exited NGX Group Plc with a turnover of 456.5 million units traded for N9.2 billion.
In terms of value, Food Concept Plc also claimed the first spot for selling 11.4 billion units of its securities worth N14.4 billion, followed by NGX Group Plc with 456.5 million units valued at N9.2 billion, and VFD Group Plc with 10.4 million units transacted for N3.5 billion.
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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.
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The unlisted securities market in Nigeria depreciated by 0.98 per cent on Wednesday following the decline in the prices of Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing Systems (CSCS) Plc.
At the close of business, the market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange went down by N6.1 billion to N609.81 billion from N615.86 billion, while the NASD Unlisted Security Index (NSI) decreased by 7.33 points to wrap the session at 738.11 points compared with 745.44 points recorded at the previous session.
During the trading day, NDEP depreciated by N2.50 or 1.0 per cent to settle at N245.00 per share compared with the preceding day’s N247.50 per share, while CSCS went down by N1.12 or 6.8 per cent to N16.60 per unit from N17.72 per unit.
Yesterday, the market reported a surge in the volume of securities traded by investors by 33,063.5 per cent as investors exchanged 328.8 million units of stocks compared to the 991,482 units of stocks traded at the preceding session.
Similarly, the value of shares traded by market participants increased by 597.4 per cent to N169.9 million from the N24.4 million reported on Tuesday, while the number of deals slightly increased by 10.00 per cent to 11 deals from Tuesday’s 10 deals.
At the close of business, Food Concepts Plc was the most active stock by volume (year-to-date) as it has traded 11.4 billion units of its shares worth N14.4 billion. Geo Fluids Plc was in second place with 1.0 billion units worth N700.1 million, while Nigerian Exchange (NGX) Group Plc still maintained the third position with 456.5 million units of its shares worth N9.2 billion.
Also, the most active stock by value at the close of transactions yesterday on a year-to-date basis was Food Concept Plc as a result of the 11.4 billion units of its securities exchanged for N14.4 billion. It was followed by NGX Group Plc with a turnover of 456.5 million units worth N9.2 billion, while VFD Group Plc was third with 10.4 million units valued at 3.5 billion.
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The Naira succumbed to a high demand pressure at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Wednesday, October 13 as it depreciated against the United States Dollar.
Business Post reports that during the trading session, the Nigerian currency lost 80 kobo or 0.19 per cent against the greenback to close at N415.10/$1 in contrast to N414.30/$1 it traded at the specialised window on Tuesday.
FX supply crunch at the market segment contributed to the downfall of the local currency yesterday and according to data from the FMDQ Securities Exchange, transactions worth $306.77 million were recorded as against the $153.39 million achieved at the preceding session, indicating a surge of $153.38 million or 99.9 per cent.
Despite the rising in the price of crude oil and the recent gradual increase in the nation’s external reserves, the Naira has struggled to grow stronger at the forex market as a result of the FX policies of the Central Bank of Nigeria (CBN), which many observers said causing speculations.
At the interbank segment of the market yesterday, the Nigerian currency further closed flat against the American Dollar at N410.87/$1.
Meanwhile, at the digital currency market, eight of the 10 tokens monitored by this newspaper closed positive, with the most popular of the cryptos, Bitcoin (BTC), recording a 3.9 per cent appreciation to sell at N32,380,237.89.
Litecoin (LTC) gained 5.9 per cent to trade at N101,972.04, Binance Coin (BNB) rose by 4.9 per cent to sell at N272,233.09, Dogecoin (DOGE) increased by 2.2 per cent to quote at N138.71, while Ripple (XRP) climbed higher by 1.7 per cent to N630.00.
Further, Ethereum (ETH) appreciated by 1.1 per cent to trade at N2,019,947.81, Cardano (ADA) added 0.3 per cent to its value to sell at N1,282.77, while the US Dollar Tether (USDT) moved up by 0.2 per cent to sell for N570.
On the flip side, Tron (TRX) recorded a 2.8 per cent drop to trade at N53.55, while Dash (DASH) slid by 0.2 per cent to sell for N102,005.02.
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Crude oil prices dropped yet again on Wednesday as the Organisation of the Petroleum Exporting Countries (OPEC) revised downward its 2021 estimate for oil demand.
Brent crude lost 17 cents or 0.2 per cent to trade at $83.25 per barrel, while the United States West Texas Intermediate (WTI) lost 11 cents or 0.14 per cent to sell for $80.53 per barrel.
The cartel expects this year’s global oil demand to grow by 5.8 million barrels per day from the low 2020 levels, down from last month’s estimate of 5.96 million barrels per day annual growth.
In its closely watched Monthly Oil Market Report (MOMR) released yesterday, the oil group kept its 2022 oil demand growth forecast unchanged at 4.2 million barrels per day to the average total global demand of 100.8 million barrels per day next year.
Last month, OPEC had raised its 2022 oil demand forecast by 900,000 barrels per day, expecting the surge of the Delta variant to partially delay the oil demand recovery into the next year with robust economic growth and stronger recovery in fuel consumption.
In this month’s report, OPEC revised downward its 2021 estimate due to lower-than-expected actual data for the first three quarters of the year despite healthy oil demand assumptions going into the final quarter of the year.
In the report, it was noted that global oil demand in the fourth quarter will be driven by a seasonal increase in petrochemical and heating fuel demand, as well as the potential switch from natural gas to petroleum products due to the high gas prices, the cartel noted.
In recent weeks, there has been growing interest in switching from gas to oil, and OPEC said that if this trend continues, fuels such as fuel oil, diesel, and naphtha could see support, driven by higher demand from power generation, refining and petrochemical use.
Shortages of coal and natural gas in China, Europe and India have boosted prices for the fuels burned for electricity generation. Oil products are being used as a substitute.
The European Commission outlined measures the European Union could use to combat surging energy prices and said it would explore joint gas purchasing among countries.
Meanwhile, Russian President, Mr Vladimir Putin said oil prices could reach $100 a barrel and noted that the country was ready to provide more natural gas to Europe if requested.
Data from the American Petroleum Institute, an industry group was delayed on Wednesday and the official inventories figure from the US Energy Information Administration (EIA) will be released on Thursday. The data was delayed by a day following the Columbus Day holiday on Monday.
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