FrieslandCampina Loses N12.1 Loss in One Week

October 19, 2020
FrieslandCampina

By Adedapo Adesanya

FrieslandCampina WAMCO Nigeria was the worst-performing stock at the NASD Over-the-Counter (OTC) Securities Exchange in week 42 as its share price depreciated by N12.1 or 8.8 per cent to N125.04 per share versus N137.14 per share.

Business Post gathered that this resulted from the selloff of the milk producer’s stocks as investors were taking profit after days of doing well at the unlisted securities market.

But last week, the poor performance of the company on the exchange was solely responsible for the sour week, depleting the unlisted securities index by 0.86 per cent or 6.21 points to 716.92 points from 723.13 points of the preceding week.

In the same pattern, the market capitalisation depreciated by 0.86 per cent or N4.56 billion to close at N526.63 billion compared to N531.19 billion a week earlier.

However, there was an 89.2 per cent increase in the total value of equities traded during the week as shares worth N176.3 million were transacted in contrast to N93.1 million recorded the prior week.

In a similar pattern, the trading volume increased by 3,145.9 per cent to 29.7 million units from the 914,200 units achieved in the previous week.

There was, however, a 31.6 per cent drop in the number of deals executed at the session with 26 trades carried out in the week as against the 38 deals recorded in the preceding week.

In the week, there was only a single price riser and this was Central Securities Clearing System (CSCS) Plc, which boosted its value by 10.74 per cent to N14.95 per share from N13.5 per share.

As at week 42, in terms of Year-to-date trading, investors have traded 7.9 billion units worth N11.7 billion in 1,277 deals.

The week closed with NASD Plc ranked top among the four traded securities by volume with 29.0 million units. Others include FrieslandCampina WAMCO Nigeria Plc (310,313 units), CSCS Plc (295,624 units ), and Niger Delta Exploration and Production (NDEP) Plc (20,500 units).

By value, NASD Plc ranked top among the most traded securities at N101.7 million. FrieslandCampina WAMCO Nigeria Plc recorded N39.7 million, CSCS Plc recorded N28.5 million while NDEP Plc recorded N6.4 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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