FrieslandCampina, IGI Pull NASD Market Capitalisation Below N1trn

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By Adedapo Adesanya

The value of the NASD Over-the-Counter (OTC) Securities Exchange, which is measured by market capitalisation, finished below the N1 trillion psychological mark on Tuesday, May 2.

This occurred after the duo of FrieslandCampina Wamco Nigeria Plc and Industrial and General Insurance (IGI) Plc weakened the unlisted securities market by 1.00 per cent at the close of transactions.

The market capitalisation of the bourse ended the trading session at N999.99 billion compared with the previous trading session’s value of N1.010, according to data obtained by Business Post.

FrieslandCampina lost N5.42 yesterday to quote at N74.00 per unit compared with last Friday’s N79.42 per unit, and IGI declined by 1 Kobo to trade at 7 Kobo per share versus the preceding session’s 8 Kobo per share.

The losses printed by the two firms on the OTC stock exchange offset the 15 Kobo improvement reported by Geo-Fluids, as it closed at N2.50 per unit compared with N2.35 per unit.

Consequently, the NASD unlisted securities index (NSI) went down by 7.29 points to 722.92 points from 730.21 points.

At the market yesterday, the volume of transactions increased by 21.1 per cent to 12.2 million units from 10.1 million units, the value of trades went down by 75.9 per cent to N3.3 million from N13.6 million, while the number of deals grew by 57.1 per cent to 11 deals from seven deals.

Geo-Fluids Plc closed the day as the most traded stock by volume (year-to-date) with 820.8 million units sold for N1.3 billion, IGI Plc has transacted 627.7 units for N49.4 million, and UBN Property Plc has traded 379.8 million units for N321.6 million.

On the other side, VFD Group Plc ended the session as the most traded stock by value (year-to-date) for selling 10.4 million units worth N2.4 billion, followed by Geo-Fluids Plc with 820.8 million units valued at N1.3 billion, and FrieslandCampina Wamco Nigeria Plc with 4.7 million units worth N332.9 million.

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