Adedapo Adesanya
By Adedapo Adesanya
The bearish situation on the trading floor of the NASD Over-the-Counter (OTC) Securities Exchange entered the third day on Wednesday.
The unlisted securities market depreciated yesterday by 0.10 per cent, no thanks to FrieslandCampina WAMCO Nigeria Plc, a popular milk manufacturer in Nigeria.
During the session, the market capitalisation of the bourse reduced by N490 million as a result of the poor performance of Friesland to N498.99 billion from N499.48 billion on Tuesday.
Equally, the NASD Unlisted Security Index (NSI) lost 0.68 points to wrap the day at 695.45 points as against 696.13 points recorded at the previous trading session.
Business Post reports that the share price of FrieslandCampina went down on Wednesday by 0.4 per cent or 50 kobo to N119 per unit versus N119.50 per unit of the earlier session.
However, there was no single price riser when trading activities were wrapped up yesterday.
The market witnessed another decline in the volume of securities exchanged among investors at the midweek session as 20,614 units were transacted compared to the previous day’s 77,320 units, indicating a 73.3 per cent decrease in the trading volume.
The value of transactions also went down again yesterday by 39.7 per cent as all traded securities amounted to N3.8 million compared to the previous day’s N2.3 million.
However, the number of deals traded on Wednesday amounted to six deals, the same number of deals recorded on Tuesday at the exchange.
Five of these deals were executed on FrieslandCampina, while Central Securities Clearing Systems (CSCS) Plc carried out a single deal.
Yesterday, UBN Property Plc remained as the most traded stock by volume (year-to-date) with the sale of 15.5 million units valued at N16.8 billion. CSCS Plc followed in second place with 4.7 million units worth N74.5 million, while FrieslandCampina WAMCO Nigeria Plc held the third position with 2.7 million units worth N331.7 million.
However, FrieslandCampina was the most traded stock by value (year-to-date) with the sale of 2.7 million units valued at N331.7 million. Niger Delta Exploration and Production (NDEP) Plc has traded 612,249 units of its securities valued at N198.1 million, while CSCS Plc has traded 4.7 million units worth N74.5 million.
