Economy
Food Concepts Triggers 0.21% Decline at NASD OTC Bourse
By Adedapo Adesanya
Food Concepts Plc, the parent company of fast food chain Chicken Republic and Pie Express, triggered a 0.21 per cent depreciation on the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, October 7.
The firm recorded an 8.7 per cent drop in the midweek session to quote at N2.40 per unit compared with the previous day’s closing price of N2.75 per unit.
This was despite a market bellwether, FrieslandCampina Wamco Nigeria Plc, gaining 0.2 per cent during the session to sell at N150.00 per share compared with the preceding session’s N148.00 per share.
At the close of business, the market capitalisation gave up N5.61 billion to settle at N2.638 trillion, in contrast to Tuesday’s N2.643 trillion, while the NASD Security Index (NSI) dipped by 9.34 points to 4,395.52 points from 4,404.86 points.
The volume of securities executed by market participants on Wednesday decreased by 61.8 per cent to 1.13 million units from 2.96 million units, and the value of securities transacted dropped by 11.9 per cent to N155.3 million from the preceding session’s N176.3 million.
The number of deals completed during the trading session depreciated by 40.4 per cent to 28 deals from the 47 deals carried out a day earlier.
These deals were carried out across admitted stocks including 11 Plc, Afriland Properties Plc, Central Securities Clearing System (CSCS) Plc, First Trust Mortgage Bank, FrieslandCampina Wamco Nigeria Plc, and Food Concepts, among others.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 81.9 million units exchanged for N6.0 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
