NDEP, Friesland Depress NASD OTC Market by 0.97% Thursday

February 25, 2022
NDEP

By Adedapo Adesanya

Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc made room for the bear on Thursday, causing the NASD Over-the-Counter (OTC) Securities Exchange to decline by 0.97 per cent at the close of business.

NDEP Plc made a N22.90 or 11.1 per cent decline to close at N206.00 per unit compared with N229.00 per unit is traded on Wednesday, while FrieslandCampina WAMCO Nigeria Plc recorded a N2.67 or 2.2 per cent depreciation to sell at N122.33 per share compared to N125.00 per share it traded the previous session.

However, there were two price gainers during the session led by NASD Plc, which improved by 51 kobo or 5.7 per cent to close at N9.01 per share in contrast to N8.50 per share it ended a day earlier, while Central Securities Clearing Systems (CSCS) Plc gained 10 kobo or 0.6 per cent to wrap the day at N18.20 per unit as against N18.10 per unit of the preceding session.

But the poor performance of NDEP and Friesland depleted the market capitalisation of the NASD OTC exchange by N6.03 million to N618.94 billion from N624.97 billion and sliced the NASD Unlisted Securities Index (NSI) by 7.13 basis points to 730.93 points from 738.06 points it recorded at the previous session.

On the activity chart, there was a surge in the volume of securities traded at the bourse yesterday by 211,222.5 per cent to 8.6 million units from the previous trading session’s 4,079 units.

In the same pattern, there was also an upsurge in the value of shares traded by investors by 17,452.4 per cent to N92.6 million from the previous day’s N528,231.

These trades were carried out in 19 deals, 137.5 per cent higher than the eight deals executed on Wednesday.

When the market closed for the session, CSCS Plc remained as the most traded security by volume on a year-to-date basis with the sale of 656.2 million units for N13.8 billion, trailed by NASD Plc with 21.6 million units valued at N212.7 million, and Food Concepts Plc with 4.0 million units valued at N3.2 million.

Also, CSCS Plc was the most traded stock by value on a year-to-date basis with the sale of 656.2 million units worth N13.8 billion, trailed by VFD Group Plc with 916,161 units worth N331.5 million, and FrieslandCampina WAMCO Nigeria Plc with 2.1 million units traded for N255.2 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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