Adedapo Adesanya
By Adedapo Adesanya
Niger Delta Exploration and Production (NDEP) Plc and Afriland Properties Plc created a bearish environment for equities at the NASD Over-the-Counter (OTC) Securities Exchange on Friday.
The unfavourable outcomes of the two stocks dampened the mood of the market by 0.19 per cent at the close of transactions yesterday.
NDEP Plc recorded a price depreciation of N2.17 or 0.7 per cent to close at N309.77 per share as against N311.94 per share it closed at the previous session.
Also, Afriland dropped 4 kobo or 2.8 per cent during the trading day to close at N1.38 per share in contrast to N1.42 per share it closed a day earlier.
As a result of the losses printed by these two stocks, the NASD unlisted securities Index (NSI) slid by 1.38 points to 719.31 points from 720.69 points, while the market capitalisation declined by N1.01 billion to N528.38 billion from N529.39 billion.
However, the trading volume improved yesterday after inactivity at the previous session by 5,569.8 per cent as a total of 332,627 shares exchanged hands compared with the 5,877 units transacted previously.
These transactions were carried out in eight deals from three admitted companies. FrieslandCampina WAMCO Nigeria Plc accounting for four deals, while NDEP Plc and Afriland Properties Plc accounted for two deals each.
At the close of business, the trading value from these transactions went up by 11,860.7 per cent to N95.1 million from N795,492.30.
Business Post noted that as the session came to a wrap with no price advancer.
By the close of trades, ARM Life Plc maintained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. Central Securities Clearing Systems (CSCS) Plc was in second place with 203.5 million units traded at N2.7 billion, while Food Concepts Plc followed with 128.1 million units traded at N90.2 million.
In terms of the most traded stock by value (year-to-date), ARM Life Plc still retained the top spot after transacting 7.4 billion units worth N4.6 billion. NDEP Plc came next with 10.4 million units of securities exchanged for N3.2 billion while CSCS Plc sat in third place for selling 203.5 million units valued at N2.7 billion.
