By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange found itself in a danger zone on Friday after it depreciated by 0.94 per cent at the close of transactions.
The unlisted securities market was weakened during the trading day by the decline in the share price of FrieslandCampina WAMCO Nigeria Plc.
The milk producer, which was the only price mover yesterday, lost 3.88 per cent or N4.87 to close at N125.50 per share in contrast to the previous day’s N130.37 per share.
The dip took off N4.76 billion from the market capitalisation of the NASD Exchange, closing at N502.82 billion as against N507.58 billion it closed on Thursday.
Likewise, the poor performance of Friesland reduced the NASD Unlisted Security Index (NSI) by 6.63 points to 700.78 points from 707.41 points it ended a day earlier.
At the market on Friday, the volume of transactions decreased by 70.1 per cent as only 1.5 million units of securities were traded in contrast to 5.1 million units recorded at the preceding session.
The same pattern was seen in the trading value, which went down by 81.9 per cent to N4.3 million from the preceding session’s N23.5 million.
Furthermore, the number of deals executed declined by 44.44 per cent as five deals were carried out compared with the nine deals achieved on Thursday.
At the close of the day, UBN Property Plc was the most traded stock by volume (year to date) with 21.9 million units valued at N24.6 billion. Central Securities Clearing Systems (CSCS) Plc followed with 5.0 million units worth N79.1 million, while Friesland held the third position with 2.9 million units worth N362.1 million.
However, the most active stock by value (year-to-date) at the close of business yesterday was Friesland with the sale of 2.9 million units valued at N362.1 million. Niger Delta Exploration and Production (NDEP) Plc trailed with 665,749 units of its securities valued at N213.0 million, while CSCS Plc occupied the third spot for selling 5.0 million units worth N79.1 million.
