FrieslandCampina Further Sinks OTC Stock Market by 0.63%

The NASD Over-the-Counter (OTC) Securities Exchange further declined by 0.63 per cent on Friday, the fourth straight session the OTC stock market closed in the negative region this week.

The loss happened after the price of FrieslandCampina Wamco Nigeria Plc at the bourse closed lower by N3.46 to finish at N71.50 per unit compared with Thursday’s closing price of N74.96 per unit.

Consequently, the market capitalisation of the alternative exchange shrank by N6.75 billion to settle at N1.066 trillion, in contrast to the preceding day’s N1.073 trillion, as the NASD Unlisted Securities Index (NSI) depreciated by 4.88 points to end the day at 770.74 points as against 775.77 points it recorded at the previous session.

During the trading day, there was a 94.4 per cent decline in the volume of securities traded by investors to 23,000 units compared with the 406,829 units transacted by market participants on Thursday.

Equally, there was an 88.3 per cent shortfall in the value of shares traded at the bourse on Friday to N1.8 million from the N15.4 million reported a day earlier.

These trades were executed in four deals yesterday compared with the 35 deals carried out in the preceding trading day, indicating a decline of 88.6 per cent.

The most traded stock by volume on a year-to-date basis remained Central Securities Clearing System (CSCS) Plc, which has transacted 1.1 billion units valued at N21.2 billion, Geo-Fluids retained the second place with the sale of 625.9 units valued at N1.1 billion, while Industrial and General Insurance (IGI) Plc was in third place with a turnover of 608.3 million units worth N48.1 million.

Also, CSCS Plc remained the most traded stock by value on a year-to-date basis with the sale of 1.1 billion units worth N21.2 billion, followed by VFD Group with a turnover of 18.9 million units valued at N4.2 billion, and Geo-Fluids Plc with 625.9 million units valued at N1.1 billion.

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