OTC Exchange Loses 0.27% After FrieslandCampina Stocks Dip

August 2, 2023
OTC stock exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange depreciated by 0.27 per cent on Tuesday, August 1, extending the loss from the previous month into the month as a result of a drop in the stock price of FrieslandCampina WAMCO Nigeria Plc.

The milk producer lost N1.53 during the trading session to close at N76.09 per share versus the previous closing price of N77.62 per share.

It made nonsense of the 2 Kobo gained by Acorn Petroleum Plc, closing at 21 Kobo per unit compared with the previous day’s 19 Kobo.

As a result, the market capitalisation of the OTC exchange depreciated by N2.95 billion to wrap the day at N1.074 trillion compared with Monday’s value of N1.077 trillion.

Following the same trend was the NASD Unlisted Securities Index (NSI), which decreased by 2.13 points to wrap the session at 776.53 points compared with 778.66 points recorded at the previous session.

Yesterday, the volume of securities traded at the bourse went down by 59.9 per cent to 2.1 million units from the 5.1 million units achieved a day earlier.

However, the value of shares traded during the trading session increased by 184.3 per cent to N52.5 million from the N18.5 million achieved in the previous trading day, and the number of deals carried out on Tuesday grew by 46.7 per cent to 22 deals from the 15 deals executed on Monday.

Central Securities Clearing System (CSCS) Plc remained the most traded stock by volume (year-to-date) with 1.1 billion units valued at N21.2 billion, Geo-Fluids stood in second place with 631.0 units valued at N1.1 billion, while Industrial and General Insurance (IGI) Plc was in third place with 608.3 million units worth N48.1 million.

Further, CSCS Plc ended the session as the most traded stock by value (year-to-date) with 1.1 billion units worth N21.2 billion, followed by VFD Group with 18.9 million units valued at N4.2 billion, and FrieslandCampico Wamco Nigeria Plc with 18.3 million units worth N1.3 billion.

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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