FrieslandCampina, CSCS Drag NASD Exchange Lower by 1.19%

By Adedapo Adesanya

FrieslandCampina Wamco Nigeria Plc and Central Securities Clearing System (CSCS) Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.19 per cent on Wednesday, October 21.

FrieslandCampina, which is the parent company of milk brands like Peak Milk and Three Crowns, lost N5.36 to close at N137.39 per share compared with the previous day’s N142.75 per share, and CSCS Plc dropped N4.19 to sell at N98.60 per unit versus the preceding session’s N102.79 per unit.

They offset the 27 Kobo gained by Afriland Properties Plc, which closed at N12.50 per share, in contrast to Tuesday’s closing price of N12.23 per share.

As a result, the market capitalisation of the trading platform eased by N31.04 billion to N2.583 trillion from N2.614 trillion, and the NASD Security Index (NSI) contracted by 51.72 points to 4,303.61 points from 4,355.33 points.

The volume of securities executed by investors at the midweek session plunged by 91.3 per cent to 86,142 units from 985,682 units, the value of securities transacted slipped by 54.8 per cent to N10.0 million from the preceding session’s N22.2 million, and the number of deals slumped by 46.4 per cent to 15 deals from 28 deals.

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.