Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.72 percent at the midweek trading session of the week.
This came after the exchange appreciated back to back sessions on Monday and Tuesday.
The contraction at the bourse on Wednesday resulted into the depletion of the NASD unlisted securities index (NSI) by 5.09 points to 699.89 points from Tuesday’s 704.98 points.
Equally, the market capitalisation depreciated during the day by 0.72 percent equivalent to N3.73 billion to N514.12 billion from N517.85 billion.
It was observed that the drop suffered by the market was caused by a depreciation in the stock price of FrieslandCampina WAMCO Nigeria Plc. The milk producer dropped 2.45 percent equivalent to N2.93 to N119.82 per share from N122.75 per share it closed at the previous session.
At the midweek trading session, the market recorded a price gainer, Central Securities Clearing Systems (CSCS) Plc, but its price appreciation of 5 kobo was not enough to impact the market. The company’s share price closed at N13.55 per unit in contrast to N13.50 per share it traded on Tuesday.
At the market yesterday, the trading volume depreciated by 64.4 percent as a total of 55,000 shares were transacted by investors compared with the 154,550 shares of the previous day.
These stocks were traded in three deals compared with the five deals of the preceding day, indicating a decline by 40 percent.
An analysis of the trades showed that two of the three deals of yesterday were from FrieslandCampina WAMCO Nigeria Plc, while CSCS Plc had the remaining one deal.
A further breakdown showed that the trades amounted to N6.1 million, lower than Tuesday’s trading value of N16.8 million by 64.0 percent.
From these transactions, CSCS Plc accounted for N67,750, while FrieslandCampina Plc contributed N5.99 million.
At the close of business, ARM Life Plc maintained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. CSCS was in second place with 196 million units traded at N2.6 billion, while Food Concept Plc Plc followed in third place with 110 million units traded at N77 million.
In terms of value of trades (year-to-date), ARM Life Plc still retained the top position with a total of 7.4 billion units worth N4.6 billion. CSCS Plc came in second place with 196 million units valued at N2.6 billion, while Niger Delta Exploration and Production (NDEP) Plc followed in third spot with 7.8 million units worth N2.4 billion.
