NDEP, Two Others Drag NASD OTC to Lowest Point in Three Months

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its bad start to the new month on Tuesday with a loss of 1.73 per cent.

This decline was propelled by the trio of Niger Delta Exploration and Production (NDEP) Plc, FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.

The NASD Unlisted Security Index (NSI) depreciated by 12.26 points to a new-year low of 696.13 points from 708.39 points its closed on Monday.

Also, the market capitalisation depreciated by N8.78 billion to close at N499.48 billion compared to N508.26 billion it settled the preceding session.

Business Post reports that NDEP Plc recorded the heaviest loss among the decliners yesterday as its stocks lost N22.82 or 7.8 per cent to close at N270 per unit from N292.82 per unit.

On its part, FrieslandCampina declined by N1.28 or 0.7 per cent to close at N119.50 per unit versus the previous N120.28 per unit, while CSCS Plc lost 78 kobo or 4.7 per cent to end the day at N15.72 per share compared to N16.50 per share.

On the activity chart, the volume of securities traded by investors dropped 79.6 per cent to 77,320 units as against 378,275 units, while the value of securities transacted reduced 91.33 per cent to N3.8 million from the previous day’s N43.9 million, with the number of deals declining by 33.33 per cent to six deals from nine deals of the preceding session.

These deals were executed on CSCS Plc (three deals), FrieslandCampina (two deals) and NDEP Plc (one deal).

UBN Property Plc still remained the most traded company volume-wise (year-to-date) with 15.5 million units valued at N16.8 billion. CSCS Plc has traded 4.7 million units worth N74.5 million, while FrieslandCampina has exchanged 2.7 million units worth N329.4 million.

However, the most traded stock by value (year-to-date) was FrieslandCampina as it has transacted 2.7 million units valued at N329.4 million. NDEP Plc has traded 612,249 units of its securities valued at N198.1 million, while CSCS Plc has traded 4.7 million units worth N74.5 million.