Friesland And NDEP dropped

Friesland And NDEP Lower The NASD OTC Bourse by 0.28%

Friesland And NDEP dropped

On Tuesday, June 6, the NASD Over-the-Counter (OTC) Securities Exchange fell 0.28 percent as losses were reported by FrieslandCampina WAMCO Nigeria Plc and Niger Delta Exploration and Production (NDEP) Plc.

As NDEP Plc declined by N1.06 to close at N245.15 per unit compared to N246.21 per unit the day before, FrieslandCampina Wamco Nigeria Plc dropped N1.26 in value to trade at N69.74 per unit as opposed to N71.00 per unit.

The pair prevented the 1 Kobo price increase reported by Acorn Petroleum Plc, closing at 16 Kobo per share as opposed to 15 Kobo per share in the previous session.

As a result of this incident, the NASD OTC bourse’s market capitalization decreased by N2.78 billion to close the day at N1.005 trillion, down from N1.008 trillion on Monday, and the NASD Unlisted Securities Index (NSI), which decreased by 2.00 points to 726.86 points from 728.86 points.

In contrast to Tuesday, when N142.9 million worth of securities were traded, yesterday’s market saw a 75.0 percent decline in trading value as a total of N35.7 million worth of equities were exchanged.

The number of transactions completed during the day fell by 43.8% to 27 transactions from the 48 transactions completed during the previous session, resulting in a 93.9 percent decline in trading volume to 1.4 million units at the close of business.

With a turnover of 832.1 million units valued at N1.3 billion so far this year, Geo-Fluids Plc has continued to be the most actively traded stock by volume. Industrial and General Insurance (IGI) Plc has transacted 628.3 units worth N49.5 million, and UBN Property Plc has traded 395.9 million units worth N336.6 million.

For its part, Geo-Fluids Plc has traded 832.1 million units for N1.3 billion, while FrieslandCampina Wamco Nigeria Plc has sold 17.5 million units for N1.2 billion, keeping VFD Group Plc as the most actively traded stock by value year to date.

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