Friesland, CSCS Leave NASD Bourse Bleeding After N8.23bn Loss

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) started the week on a negative note after it bled by 1.3 per cent on Monday as a result of profit-taking, especially in the shares of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.

The Peak Milk maker lost N3.3 or 2.9 per cent yesterday to trade at N115.00 per share compared with the previous N118.30 per share, while the Nigerian depository company depreciated by N1.00 or 5.4 per cent to quote at N18.38 per unit as against the preceding session’s value of N19.38 per unit.

The losses posted by the duo decreased the market capitalisation of the bourse by N8.23 billion to N622.23 billion from N630.46 billion and weakened the NASD Unlisted Securities Index (NSI) by 9.71 points to wrap the session at 734.83 points compared with 744.54 points recorded at the previous session.

Unfortunately, the market did not record a price gainer yesterday, but the volume of securities traded at the bourse by investors went down by 97.3 per cent to 111,347 units from the 4.1 million units achieved last Friday.

In the same vein, the value of shares that exchanged hands during the trading day depleted by 94.5 per cent to N4.8 million from N86.9 million, while the number of deals executed by traders depreciated by 12.5 per cent to seven deals from the eight deals carried out at the preceding session.

At the close of business, CSCS Plc maintained its position as the most traded security by volume on a year-to-date basis with 653.7 million units of its shares sold for N13.7 billion. VFD Group Plc came next with 916,161 units valued at N331.5 million, while Friesland Campina WAMCO Nigeria Plc has so far traded 233,766 units valued at N27.5 million.

Also, CSCS Plc ended the day as the most traded stock by value on a year-to-date basis with the sale of 653.7 million units worth N13.7 billion. VFD Group Plc also came next with 916,161 units worth N331.5 million, while Friesland Campina WAMCO Nigeria Plc trailed with 233,766 units worth N27.5 million.