By Adedapo Adesanya
Trading activities on the floor of the NASD Over-the-Counter (OTC) Securities Exchange recorded a 2.29 contraction on Tuesday, January 19.
This was caused by a negative price movement in the securities of FrieslandCampina WAMCO Nigeria Plc. The share price of the fast-moving-consumer-goods company lost a whopping N13.19 or 9.8 per cent to close the session at N121.81 per share in contrast to N135 per share of the previous session.
The outcome of this equity led to the decline in the market capitalisation of the bourse by N12.21 billion to close the day at N521.95 billion versus N534.16 billion.
The same trend affected the NASD Unlisted Securities Index (NSI), which decreased by 17.02 points to settle at 727.44 points compared with 744.46 points it finished on Monday.
Business Post observed that Niger Delta Exploration and Production (NDEP) Plc recorded a rise in its equity value but this could not outweigh the loss by the milk maker.
Yesterday, the stocks of the oil and gas investment increased by 1.1 per cent or N3.66 to sell at N338.66 per share in contrast to N335 per share of the preceding session.
The activity chart showed that a total of 583,435 units of shares were transacted at the NASD OTC market 94.2 per cent lower than the 10.0 million units recorded on Monday.
These trades were made from 13 deals involving two companies; NDEP Plc (four deals) and FrieslandCampina WAMCO Nigeria Plc (nine deals).
The transactions amounted to N80.2 million compared to N10.8 million realised on Monday, representing 645.4 per cent decline.
UBN Properties Plc remained as the most active stock (year-to-date) at the bourse for trading 14.8 million units of its shares for N15.9 million. FrieslandCampina WAMCO Nigeria Plc was in second place with 651,335 units worth N80.6 million while NDEP Plc Plc held the third position with 247,650 units of its shares worth N86.1 million.
In terms of value, the highest number of stocks traded according to that parameter is NDEP Plc as its 247,650 units of securities were traded for N86.1 million. FrieslandCampina WAMCO Nigeria remained in the second spot with 651,335 units of its securities valued at N80.6 billion followed by UBN Properties Plc with 14.8 million units valued at N15.9 billion.
Modupe Gbadeyanka