FrieslandCampina, CSCS Further Shrink NASD Exchange by 1.49%

By Adedapo Adesanya

Market bellwethers, Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc, weakened the NASD Over-the-Counter (OTC) Securities Exchange further by 1.49 per cent on Thursday, September 17.

The Nigerian securities depository company gave up 4.2 per cent or N4.62 during the session to close at N105.00 per share compared with Wednesday’s closing price of N109.62 per share, and FrieslandCampina Wamco Nigeria Plc dropped 2.9 per cent or N5.00 to settle at N165.00 per unit compared with midweek’s N170.00 per unit.

However, the price of NASD Plc strengthened yesterday by 90 Kobo to sell at N34.20 per share, in contrast to the preceding session’s N33.30 per share.

The market came under selling pressure on Thursday, with the volume of securities rising by 6,276.0 per cent to 2.73 million units from the previous day’s 42,765 units. The value of securities surged by 2,318.3 per cent to N57.4 million from the preceding session’s N2.37 million, and the number of deals jumped by 155.6 per cent to 23 deals from nine deals.

Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with a turnover of 3.4 billion units worth N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units exchanged for N6.5 billion, and CSCS Plc with 81.9 million units traded for N6.0 billion.

GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units exchanged for N415.7 million.

At the close of business, the NASD Security Index (NSI) went down by 67.07 points to 4,436.04 points from 4,503.11 points, and the market capitalisation declined by N40.26 billion to N2.662 trillion from N2.702 trillion.