CSCS, FrieslandCampina Weaken NASD OTC Market by 1.02%
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell by 1.02 per cent on Monday, October 5, opening the week in the negative territory.
The day’s bearish outcome came as a result of losses recorded in the stock prices of market heavyweights, Central Securities Clearing Systems (CSCS) Plc and FrieslandCampina WAMCO Nigeria Plc.
CSCS Plc recorded a price depreciation of N1 or 7.41 per cent to close at N13.50 per share as against N14.50 per share it closed at the previous session.
Also, Friesland dropped 49 kobo or 0.35 per cent during the trading day to close at N140 per share in contrast to N140.49 per share it closed last Friday, halting its recent bullish run.
As a result of the losses printed by these two stocks, the NASD unlisted securities index (NSI) slid by 7.46 points to 726.93 points from 734.39 points, while the market capitalisation declined by N5.48 billion to N533.98 billion from N539.46 billion.
However, the trading volume improved yesterday by 126.9 per cent as a total of 64,491 shares exchanged hands compared with the 28,420 units transacted last Friday.
These transactions were carried out in six deals, with Friesland accounting for three deals, while Niger Delta Exploration and Production (NDEP) Plc accounted for two deals, with CSCS accounting for one deal.
At the close of business, the trading value from these transactions went down by 49.8 per cent to N3.9 million from N7.7 million.
Business Post noted that as the session came to a wrap, there was no advancer.
By the close of trades, ARM Life Plc maintained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 203 million units traded at N2.7 billion, while Food Concepts Plc followed with 128.1 million units traded at N90.2 million.
In terms of the most traded stock by value (year-to-date), ARM Life Plc still retained the top spot after transacting 7.4 billion units worth N4.6 billion. NDEP Plc came next with 10.4 million units of securities exchanged for N3.2 billion while CSCS Plc sat in third place for selling 203 million units valued at N2.7 billion.