Friesland, CSCS Further Drag Down NASD Index by 0.35%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the bearish zone by 0.35 per cent on Tuesday, November 16, scrapping off 2.58 points from the NASD Unlisted Security Index (NSI) to 744.58 points from the previous day’s 747.16 points.

This was also reflected in the market capitalisation of the bourse, which closed the day at N615.16 billion after depreciating by N2.13 billion. At the preceding session, the total value of stocks on the platform stood at N617.29 billion.

The session’s downward trajectory came from FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc as they both recorded negative price movements.

FrieslandCampina WAMCO made a 90 kobo or 0.8 per cent loss to trade at N119.10 per share compared with Monday’s value of N120.00 per share, while CSCS Plc lost 25 kobo or 1.4 per cent to trade at N17.60 per unit versus N17.85 per unit of the earlier trading day.

During the session, the volume of securities traded by investors increased by 40.2 per cent as 80,450 units exchanged hands compared with the 59,389 units traded previously.

However, the value of shares transacted by the market participants went down by 72.8 per cent to N2.4 million from the N8.9 million posted on Monday, while the number of deals executed improved by 20.00 per cent to 12 deals from the 10 deals carried out a day earlier.

Food Concepts Plc closed the day as the most active stock by volume (year-to-date) for trading 11.4 billion units of its shares for N14.4 billion. Lighthouse Financial Services Plc was second for selling 1.1 billion units for N546.2 million, while the third spot was taken by Geo Fluids Plc for exchanging 1.0 billion units worth N700.1 million.

Also, Food Concepts Plc remained as the most active stock by value (year-to-date) with a turnover of 11.4 billion units for N14.4 billion, trailed by Nigerian Exchange (NGX) Group Plc with 456.5 million units valued at N9.2 billion, and VFD Group Plc with a turnover of 10.4 million units worth N3.5 billion.

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