Adedapo Adesanya
By Adedapo Adesanya
The bullish run at the NASD Over-the-Counter (OTC) Securities Exchange was halted on Friday, January 8, as the market bled by 1.45 per cent.
This impacted negatively on the benchmark performance indicators as the index and the total value of securities on the exchange depreciated on the last trading session of the first week of the new year.
Business Post reports that the market capitalisation of the bourse went down by N7.81 billion to close at N532.00 billion compared to N539.81 billion it ended at the preceding session.
In the same trend, the NASD Unlisted Security Index (NSI) declined by 10.89 points at the session, ending the day at 741.45 points as against the 752.34 points printed a day earlier.
The outcome came as a market bellwether, FrieslandCampina WAMCO Nigeria Plc, saw its stock price take an N8 or 5.8 per cent shredder to sell at N130 per share as against N138 per share it traded at the previous session.
At the session, the trading volume dropped by 88.8 per cent to 5,394 units from the 48,000 units traded on Thursday, while the value of shares transacted by investors declined by 92.7 per cent to N701,220 from N9.6 million achieved on Thursday.
There was also a drop in the number of deals made on Friday as only one deal was executed on shares of FrieslandCampina WAMCO Nigeria Plc. This was 85.7 per cent lesser compared to the seven deals made on Thursday.
Central Securities Clearing Systems (CSCS) Plc, with 45,890 units worth N724,268, was the most active stock by volume (year-to-date) and was followed by FrieslandCampina WAMCO Plc, which has sold 36,394 units worth N4.9 million. Niger Delta Exploration and Production (NDEP) Plc occupied the third position with the sale of 26,650 units worth N9.4 million, while Nipco Plc stood in fourth place with 2,500 units traded for N170, 000.
But NDEP Plc took the top position in terms of value of trades (year-to-date) with 26,650 units worth N9.4 million. FrieslandCampina WAMCO Plc, which has sold 36,394 units worth N4.9 million, followed in second place. CSCS Plc came next with 45,890 units of its stocks worth N724,268, while Nipco Plc with 2,500 units traded for N170, 000 was the fourth most traded stock by value.
