Adedapo Adesanya
By Adedapo Adesanya
Two of the bellwethers at the NASD Over-the-Counter (OTC) Securities Exchange; Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc plunged the bourse by 0.4 per cent on Thursday.
Business Post reports that during the session, NDEP Plc lost N6.66 or 2.2 per cent to close at N301.84 per share in contrast to N308.50 per share it traded at the previous session.
On its part, FrieslandCampina depreciated by 88 kobo or 0.7 per cent to close the day at N127.86 per unit compared with N128.74 per unit it previously traded.
The poor performance of both stocks brought down the NASD unlisted securities index (NSI) by 2.89 points to 724.17 points from 727.06 points recorded at Wednesday’s session.
Equally, the two securities reduced the market capitalisation of the exchange by N2.06 billion to N519.61 billion from the preceding day’s N521.67 billion.
However, there was an improvement in the total volume of shares transacted by investors as 662,817 units of shares exchanged hands on Thursday in contrast to the previous session’s 26,850 units, indicating an increase of 2,238.6 per cent.
In the same vein, the value of stocks traded by the market participants wen up by 909.8 per cent to N34.9 million from the N3.5 million achieved on Wednesday.
Also, the number of deals recorded at the fourth trading session of the week increased by 533.3 per cent as a total of 19 deals occurred versus five deals of the earlier day.
These deals were executed on nine companies led by FrieslandCampina (seven deals), Niger Delta Exploration and Production (NDEP) Plc (two deals), CSCS Plc (two deals) and Air Liquide Plc (two deals).
Acorn Petroleum Plc, Food Concept Plc, Geo-Fluids Plc, Resourcery Plc, and UBN Properties Plc all recorded one deal each.
Despite the high level of trading activity, the market ended the session with no price gainer.
UBN Property Plc maintained its position as the most traded stock by volume (year-to-date) with 15.5 million units of its shares worth N16.8 million, CSCS Plc was in second place with 3.5 million units traded at N54.6 million, while FrieslandCampina WAMCO Nigeria Plc followed in third place with 2.1 million units traded at N263.4 million.
In terms of the value of trades (year-to-date), FrieslandCampina retained the top spot with 2.1 million units worth N263.4 million. NDEP Plc followed with 552,901 units valued at N180.9 million, while CSCS Plc has traded 3.5 million units worth N54.6 million.
