FrieslandCampina Drags Down NASD By 0.44%

July 21, 2023

By Adedapo Adesanya

FrieslandCampina Wamco Nigeria Plc made the NASD Over-the-Counter (OTC) Securities Exchange close 0.44 per cent lower on Thursday, neutralising the effect of the lone price gainer during the session.

Business Post reports that Afriland Properties Plc appreciated by 9 Kobo yesterday to settle at N3.25 per share compared with Wednesday’s closing price of N3.16 per share.

But it could not offset the N2.50 loss posted by FrieslandCampina during the session, closing at N76.00 per unit, in contrast to the previous day’s N78.50 per unit.

Consequently, the market capitalisation of the NASD Exchange shrank by N4.76 billion to settle at N1.074 trillion, in contrast to the midweek session’s N1.079 trillion, as the NASD Unlisted Securities Index (NSI) went down by 3.44 points to 776.65 points from 780.09 points.

At the close of transactions, investors traded a total of 479,393 units of securities, in contrast to the 32,722 units of securities transacted in the preceding session, indicating a jump of 1,365.1 per cent.

Also, the value of shares exchanged by the market participants went up by 1,405.6 per cent to N35.1 million from the N2.3 million recorded in the previous session.

The total number of deals closed upward as 15 transactions were executed, 7.1 per cent higher than the 14 deals carried out in the preceding market day.

Central Securities Clearing System (CSCS) Plc remained the most traded stock by volume on a year-to-date basis with the sale of 1.1 billion units valued at N21.2 billion, Geo-Fluids stood in second place with 625.9 units worth N1.1 billion, while Industrial and General Insurance (IGI) Plc was in third place with 608.3 million units valued at N48.1 million.

Also, CSCS Plc maintained its position as the most traded stock by value on a year-to-date basis with a turnover of 1.1 billion units worth N21.2 billion, VFD Group followed with 18.9 million units valued at N4.2 billion, while Geo-Fluids Plc was in third place with 625.9 million units worth N1.1 billion.

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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