Aradel, FrieslandCampina Sink Unlisted Stock Market by 0.64%

August 26, 2023
Friesland shares

By Adedapo Adesanya

The duo of Aradel Holdings Plc and FrieslandCampina Wamco Nigeria Plc sank the NASD Over-the-Counter (OTC) Securities Exchange by 0.64 per cent on Friday, August 25.

They rubbished the gains recorded by the duo of Food Concepts and Industrial and General Insurance (IGI) Plc at the close of transactions.

As a result, the NASD Unlisted Securities Index (NSI) reduced by 5.08 points to 785.37 points from Thursday’s 790.45 points, as the market capitalisation decreased by N7.11 billion to N1.101 trillion from the N1.108 trillion achieved a day earlier.

Business Post reports that Aradel Plc shed N14.40 to close at N445.60 per share compared with the previous day’s N460.00 per share, and FrieslandCampina Wamco Plc lost N3.47 to end the day at N73.96 per share versus N77.43 per share.

However, Food Concepts appreciated by 10 Kobo to N1.15 per unit from N1.05 per unit, while IGI Plc grew by 1 Kobo to 13 Kobo per unit from 12 Kobo per unit.

At the final trading day of the week, investors traded a total of 2.5 million units of securities, in contrast to the 5.7 million units of securities transacted a day earlier, indicating a 56.0 per cent slump.

Equally, the value of shares exchanged by the market participants went south by 75.7 per cent to N24.6 million from N101.3 million, while the number of deals declined by 83.3 per cent to 22 deals from 32 deals.

Central Securities Clearing System (CSCS) Plc remained the most traded stock by volume (year-to-date) with 1.1 billion units valued at N21.6 billion, trailed by IGI Plc with 638.6 million units worth N51.3 million, and Geo-Fluids Plc with 631.1 units sold for N1.1 billion.

Similarly, CSCS Plc finished the session as the most traded stock by value (year-to-date) with 1.1 billion units worth N21.6 billion, followed by VFD Group with 26.4 million units valued at N5.9 billion, and Aradel Holdings Plc with 4.8 million units valued at N1.5 billion.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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