UBN Property, Friesland Depress NASD by 0.11%
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) returned in the negative territory on Thursday after two securities dragged the market down by 0.11 per cent.
At the close of the market yesterday, the NASD Unlisted Security Index (NSI) decreased by 0.83 points to 736.89 points from 737.72 points recorded at the previous session, while the market capitalisation reduced by N540 million to N640.48 billion from N641.02 billion it ended on Wednesday.
This poor outcome was caused by FrieslandCampina WAMCO Plc and UBN Property Plc.
Friesland depreciated during the session by 50 kobo or 0.4 per cent to N120 per share from N120.50 per share, while UBN Property lost 10 kobo or 10 per cent to settle at N1 per unit compared with the previous closing price of N1.10 per unit.
However, there was a price gainer at the bourse on Thursday and this was the Nigerian Exchange (NGX) Group Plc, which grew by 17 kobo or 0.9 per cent to sell at N17.20 per share in contrast to N17.03 per share it closed at the midweek session. Its growth could not sway the market to the green side.
At the close of transactions, according to data gathered by Business Post, the volume of shares transacted by investors yesterday waned by 79.2 per cent to 1.2 million units from 5.7 million units.
Also, the value of the shares traded by the market participants went down by 88.1 per cent to N11.9 million from N99.9 million achieved on Wednesday.
In the same vein, the number of deals carried out during the trading day decreased by 53.6 per cent to 13 deals from the previous day’s 28 deals.
Geo Fluids Plc continued as the most active stock by volume (year-to-date) with the sale of 1.0 billion units of its shares for N700.1 million. NGX Group Plc trailed for selling 395.6 million units valued at N8.3 billion, while Food Concepts Plc grabbed the third spot with 295.0 million units worth N385.9 million.
But the most active stock by value (year-to-date) was NGX Group Plc with 395.5 million securities traded for N8.3 billion, followed by VFD Group Plc with 6.3 million units worth N2.0 billion, and Niger Delta Exploration and Production (NDEP) Plc with 3.3 million units valued at N1.0 billion.