NASD Drops 0.16% on Selloff in FrieslandCampina Stocks

Friesland WAMCO

By Adedapo Adesanya

The selloff in the stocks of FrieslandCampina WAMCO Nigeria Plc on Thursday left a cut of about 0.16 per cent deep in the NASD Over-the-Counter OTC Securities Exchange.

This was the first decline suffered by the unlisted securities market this week and it decreased the NASD Unlisted Security Index (NSI) by 1.2 points to 728.74 points from 729.94 points of the last trading day.

Also, it reduced the market capitalisation of the bourse by N880 million to N535.31 billion from N536.19 billion it ended at the previous session.

Business Post reports that shares of the milk producer, which was responsible for the day’s loss, went down by N3.21 or 2.40 per cent to close at N133.93 per share versus N137.14 per share of the previous day.

The poor performance of the bellwether stock overpowered the positive outcome of its peer, the Central Securities Clearing Systems (CSCS) Plc, which appreciated by 45 kobo or 3.01 per cent to close at N14.95 per unit as against N14.50 per unit of Wednesday.

On the activity chart, there was an improvement in the trading volume by 3,373.22 per cent to 156,295 securities from the 4,500 securities traded at the previous session.

Similarly, the value of securities traded on Thursday skyrocketed to N12.9 million, 5,012.9 per cent more than the previous session’s N253,275.

These trades were done in 13 deals, 550 per cent or 10 deals higher than the three deals made on Wednesday and they came from two companies; FrieslandCampina WAMCO Nigeria Plc with 10 deals and CSC with three deals.

ARM Life Plc remained as the company with the highest number of traded securities on a year-to-date basis, exchanging 7.4 billion units worth N4.6 billion. CSCS Plc was in second place with 203.1 million units worth N2.7 billion, while Food Concept Plc held the third position with 128.1 million units of its shares worth N90.2 million.

Also, the insurer remained as the most traded stock by value (year-to-date) for trading 7.4 billion units valued at N4.6 billion, while the Niger Delta Exploration and Production (NDEP) Plc followed for exchanging 10.4 million units for N3.2 billion, with CSCS Plc in the third spot for transacting 203.1 million units valued at N2.7 billion.

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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