NASD records positive returns on its index

July 1, 2016 // NASD OTC Plc

Culled—–Proshare

The NASD OTC market closed the first half of the year with a growth of 13.29% on its Index. Despite the policy flip flops, exchange rate uncertainty and budget delay which faced the Nigerian economy, it recorded a growth at the end of the first six months of the year.

The NASD OTC Unlisted Securities Index (USI) closed at 658.74 points on the last day of June, up from 581.45 points at which it opened 2016. Taking the index on a QoQ basis, the NASD OTC market recorded 9.54% growth in Quarter 2 which opened at 601.37 points. Market capitalisation added ₦41.19 billion rising from ₦395.98 billion to close at ₦437.17 billion yesterday.

NASD believes that the rebound the market recorded is as a result of positive reactions to the new flexible foreign exchange policy of the Central Bank of Nigeria (CBN) as well as the alignment between the fiscal and monetary policies in recent times

New authorized traders join the NASD OTC Market

NASD is pleased to welcome the Two (2) new Authorised Traders who completed their induction in the week. The individuals have completed their membership requirements with the NASD OTC and are eligible to trade any of the 28 securities on the OTC market. This brings the total number of Authorised Traders on the OTC market to 208.

NASD is also pleased to welcome a new Participating Institution to the market. The Participating Institution satisfactorily meets the requirements to become a member of the NASD OTC market. All investors are hereby advised that they can complete their transactions through our Participating Institutions. This brings the number of Participating Institutions on the NASD OTC Market to 115.

Corporate Information

Notice is hereby given that the Twenty-First (21st) Annual General Meeting of the members of NIGER DELTA EXPLORATION & PRODUCTION PLC (NDEP) will hold on Thursday the 28th July 2016, at the AGIP Hall of the MUSON Center, No, 8/9 Marina, Onikan, Lagos at 1 1:00 a.m.

Unlisted Securities Index

As at Friday, 1 July 2016, the index closed at 662.51 (up 1.95% on previous close)