Fri. Nov 22nd, 2024

Friesland, UBN Property Depress NASD by 0.16%

UBN Property

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) returned to the negative zone as bearish price movements in two admitted securities on Friday, November 19 downed the bourse by 0.16 per cent.

The losers were led by FrieslandCampina WAMCO Nigeria Plc which ended the session at N120.52 per unit after losing 48 kobo or 0.4 per cent from its previous value of N121 per unit.

UBN Property Plc closed the session with a nine kobo or 10.00 per cent loss to settle at 90 kobo per share compared with the previous closing price of 99 kobo per share.

The depreciation in these stocks reduced the market capitalisation of the bourse by N970 million to wrap the day at N616.04 billion in contrast to N617.01 billion it closed in the preceding session.

Following the same trend, the NASD Unlisted Security Index (NSI) decreased by 1.18 points to wrap the session at 745.65 points compared with 746.83 points recorded at the previous session.

During the trading session, there was an increase of 2,536.8 per cent in the volume of securities as investors exchanged 618,115 units on the final trading day of the week versus the 23,442 units traded at the preceding session.

There was, however, a drop in the value of shares traded yesterday by 2.7 per cent as investors transacted shares worth N2.7 million as against the N2.8 million made on Thursday.

These transactions were executed in five deals, the same number of deals carried out at the preceding trading day.

Food Concepts Plc remained as the most active stock by volume (year-to-date) with the sale of 11.4 billion units of its shares for N14.4 billion, trailed by Lighthouse Financial Services Plc with the sale of 1.1 billion traded for N546.2 million, and Geo Fluids Plc with the sale of 1.0 billion units worth N700.1 million.

In terms of value, Food Concepts Plc also topped the chart with a year-to-date turnover of 11.4 billion units worth N14.4 billion, followed by Nigerian Exchange (NGX) Group Plc with a turnover of 456.5 million units worth N9.2 billion, and VFD Group Plc with 10.4 million units valued at N3.5 billion.

By 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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