NASD Exchange Sheds 1.94% Despite Gains by CSCS, Friesland

By Adedapo Adesanya

Despite gains recorded by market hardliners, the Central Securities Clearing System (CSCS) Plc and FrieslandWamco Campina, the NASD Over-the-Counter(OTC) Securities Exchange shed close to two percent on Tuesday, January 28, 2020.

At the close of transactions yesterday, the NASD Unlisted Security Index (NSI) depreciated further by 1.94 percent or 13.66 points to 691.76 points from 705.42 points recorded at the previous session.

Following the same trend, the market capitalisation also dropped 1.94 percent or N9.81 billion to close at N496.99 billion in contrast to N506.80 billion it finished on Monday.

Despite the overall market performance, the share price of securities depository company, CSCS Plc, gained 11 kobo at the bourse to close at N12.10k from N11.99k previously traded, while FrieslandWamco also improved by 11 kobo to settle at N115 compared with N114.89k it ended on Tuesday.

However, UBN Property Company, a subsidiary of Union Bank Plc, which ended as the day’s sole decliner, depreciated by 13 kobo to N1.49k per share from N1.62k per share on Monday.

The level of activity at the exchange on Tuesday was high as the total volume of securities transacted rose by 124 percent or 191,320 units from 154,625 units recorded on Monday to 345,945 units.

Also, the total value of transactions increased by 119 percent to N7.23 million from N3.3 million, while the number deals executed plunged by four or 30.8 percent to nine deals from 13 deals quoted the previous session.

ARM Life Plc closed the session as the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million exchanged at the bourse, while market gainer, CSCS Plc, was in second place with 1,353,322 units worth N15.9 million, with the day’s only loser, UBN Property Company, in the third position with 758,800 units of its shares worth N1.2 million.

On the value side (year-to-date), Niger Delta Exploration and Production (NDEP) still held the post on the log with 567,600 units of its shares sold for N180 million, while the second market gainer, FrieslandCampina Wamco Nigeria, followed with 374,488 units exchanged for N49.5 million, with ARM Life Plc trading 29 million units of its securities valued at N18.3 million.