NASD OTC Exchange Drops 0.20% After FrieslandCampina Stocks Fall

The NASD Over-the-Counter (OTC) Securities Exchange depreciated by 0.20 per cent on Tuesday, May 23, after the share price of a market bellwether, FrieslandCampina WAMCO Nigeria Plc, depreciated at the close of business.

The milk producer closed the session at N65.00 per unit compared with the previous day’s value of N66.00 per unit, indicating a decline of N1.00 yesterday.

As a result, N1.96 billion was chopped off the market capitalisation of the NASD OTC exchange on Tuesday, as it ended the session at N988.50 billion compared with Monday’s closing value of N990.46 billion.

Similarly, the NASD Unlisted Securities Index (NSI) decreased when trading activities were ended by 1.42 points to 714.61 points from the 716.03 points recorded in the previous session.

During the trading day, the volume of securities traded at the bourse moved up by 36.0 per cent, as the market participants transacted 136,573 units of stocks compared with the 100,394 units of securities traded in the preceding session.

In the same vein, the value of shares traded by investors yesterday went up by 1,548.4 per cent to N9.9 million from N604,087.34, as the number of deals executed increased by 54.5 per cent to 17 deals from the 11 deals carried out a day earlier.

Geo-Fluids Plc remained the most traded stock by volume on a year-to-date with a turnover of 831.9 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units valued at N49.4 million, while UBN Property Plc was in third place with 390.9 million units worth N332.0 million.

Also, VFD Group Plc retained its spot on top of the chart as the most traded stock by value on a year-to-date basis with the sale of 10.6 million units worth N2.4 billion, Geo-Fluids Plc followed with 831.9 million units valued at N1.3 billion, while FrieslandCampina Wamco Nigeria Plc was in third place with 12.4 million units valued at N871.1 million.

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