Friesland Pulls NASD OTC Market into Negative Territory

March 17, 2020
FrieslandCampina

By Adedapo Adesanya

Friesland Campina Wamco Nigeria Plc led the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory on Tuesday, March 17, as all market parameters closed for the day pointing south.

At the market today, the NASD Unlisted Securities Index (NSI) depreciated for the second straight day 1.32 percent to settle at 683.49 points compared with 692.80 points it ended on Monday.

This pattern was followed by the market capitalisation, which decreased  by 1.32 percent or N6.69 billion to finish at N502.07 billion in contrast to N508.76 billion it settled yesterday.

On the price movement log, Friesland Plc closed the session as the only price loser, declining by N7 or 6.09 percent to close at N115 per share compared with N122 per share it previously traded.

On the flip side, Afriland Plc was the single price gainer and its gains could not lift the market because it was a meager 10 kobo. At the close of business, the company’s share price moved up to N2.10 per share from N2.00 it previously traded.

On the activity chart today, there was a decline in the total volume of shares transacted by investors during the session. A total of 27,800 units of securities exchanged hands today compared with 347,589 units on Monday, indicating a decline by 92 percent.

In the same vein, the total value of stocks recorded at the exchange on Tuesday went down by 83 percent to N2.25 million from N13.5 million achieved at the previous session.

Also, the number of trades executed at the session decreased by 50 percent or four deals as only four deals were carried out today by investors compared with eight deals executed yesterday.

An analysis of these trades by Business Post showed that the day’s only price loser, Friesland Plc, executed three deals, while the only price gainer, Afriland, carried out the remaining one.

ARM Life Plc still remained as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. Food Concept Plc has sold 110.0 million units worth N77 million, while CSCS Plc has transacted 17.3 million units valued at N199.4 billion.

For the most active stock by value (year-to-date), ARM Life Plc maintained the top position of the chart after exchanging 7.4 billion units of its securities worth N4.6 billion. In second place was Niger Delta Exploration and Production (NDEP) Plc, which has traded 6.4 million units worth N199.4 billion, while Friesland Plc occupied the third spot with 1.9 million units worth N238 million.

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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