Friesland Pulls NASD into Negative Territory by 0.14%
By Adedapo Adesanya
Friesland Campina Wamco Plc overturned gains recorded at the NASD Over-the-Counter (OTC) Securities Exchange on Monday (January 20) as the key market parameters closed in the negatives on Tuesday, January 21.
At the previous session, UBN Property Company had moved the market up, but at the close of Tuesday’s session, the milk producer, ending as the sole loser, pulled down performance as the market capitalisation and unlisted securities index pointed south.
Friesland saw its share price drop 70 kobo at the bourse yesterday as it closed at N124.30 per share from N125 per share it previously traded, shedding 0.56 percent or 70 kobo.
This reduced the market capitalisation by 0.14 percent or N680 million to N504.84 billion from the previous sessions’ N505.52 billion, while the index also depreciated by 0.14 percent or 0.95 points to settle at 702.69 points in contrast to 703.64 points on Monday.
The total volume of shares transacted by investors during the session also plummeted by 94.5 percent or 382,080 units to 22,110 units from the 404,190 units traded at the previous trading day.
In addition, the market recorded a lesser number of deals executed by traders during Tuesday’s session as only six deals were on record compared with the seven of the previous day, indicating a decline by 14.29 percent or one deal.
However, the total value of stocks transacted at the OTC exchanged yesterday improved by 131.5 percent equivalent to N2 million to N3.6 million from N1.6 million recorded on Monday.
ARM Life Plc kept its place as the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million exchanged at the market, while CSCS Plc came second place with 816,975 units worth N9.4 million, with Niger Delta Exploration and Production (NDEP) Plc coming third with 567,600 units traded at N179 million.
However, in terms of the most traded securities by value (year-to-date), NDEP occupied the top spot on Tuesday, trading 567,600 units of its shares worth N179 million, while ARM Life was on the second position with 29,000,000 units transacted for N18.3 million, with CSCS Plc in third after selling 816,975 units valued at N9.4 million.