Afriland, Two Others Extend NASD Stay in Danger Zone
By Adedapo Adesanya
The trio of Nigerian Exchange (NGX) Group Plc, FrieslandCampina WAMCO Nigeria Plc and Afriland Properties Plc weakened the NASD over-the-counter (OTC) Securities Exchange by 0.13 per cent on Thursday, extending its stay at the danger zone.
The NGX lost 26 kobo or 1.5 per cent to close at N16.84 per share compared with the previous day’s N17.10 per share, Friesland went down by 20 kobo or 0.2 per cent to settle at N120 per unit versus the preceding session’s N120.20 per unit, while Afriland went down by 10 kobo or 8 per cent to finish at N1.25 per unit compared with N1.35 per unit it traded on Wednesday.
The losses recorded by the three securities deflated the market capitalisation of the bourse by N850 million to N654.69 billion from N655.54 billion, while the NASD Unlisted Security Index (NSI) reduced by 0.97 points to 753.24 points from 754.21 points recorded at the previous session.
At the market yesterday, there was a 20.6 per cent decline in the trading volume to 3.7 million units from 4.7 million units, while the trading value decreased by 41.7 per cent to N65.3 million from N112.1 million, with the number of deals rising by 6.3 per cent to 34 deals from 32 deals.
Geo Fluids Plc continued to be the most active stock by volume (year-to-date) at the bourse as it has traded 1.0 billion units of its shares for N700.1 million. NGX Group Plc has traded 363.3 million units valued at N7.7 billion, while Food Concepts Plc has transacted 292.0 million units worth N383.6 million.
In terms of value, NGX Group Plc finished the session as the most active stock by value on a year-to-date basis with the sale of 363.3 million units of its securities valued at N7.7 billion. VFD Group Plc remained in the second spot with 4.1 million units of its securities valued at N1.3 million, while Niger Delta Exploration and Production (NDEP) Plc has transacted 3.2 million units worth N978.8 million.