The recent bull run at the NASD Over-the-Counter (OTC) Securities Exchange came to a halt on Wednesday, no thanks to Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc.
The two market giants pulled down the unlisted securities market yesterday by 0.41 per cent on the back of profit-taking by investors.
As a result, the market capitalisation of the bourse dwindled by N2.17 billion to settle at N530.68 billion in contrast to the preceding day’s N532.85 billion.
Also, the damages caused by these two companies to the market sliced the NASD Unlisted Security Index (NSI) by 3.02 points to 739.61 points from 742.63 of the previous session.
Business Post reports that the share price of NDEP Plc went down by N11.50 or 3.6 per cent to finish at N308.50 per unit as against the N320 per unit it settled the prior day.
Likewise, FrieslandCampina WAMCO Nigeria Plc lost 10 kobo or 0.08 per cent during the session to close at N132.80 per share in contrast to N132.90 per share it closed on Tuesday.
On the activity chart, the trading volume increased by 1298.4 per cent to 667,540 units from the previous day’s 48,450 units, while the trading value rose by 1707.5 per cent to N65.6 million from N3.6 million.
In the same vein, the number of deals increased by 42.9 per cent to 10 deals from seven deals recorded at the previous session and the were carried out on seven companies led by UBN Property Plc (four deals), while Resourcery Plc, Air Liquide Plc, FrieslandCampina WAMCO Nigeria Plc, Food Concept Plc, NDEP Plc and Afriland Plc executed one deal each.
Afriland Plc was the day’s only price gainer as it made a gain of one kobo or 0.72 per cent to close at N1.39 per unit versus N1.38 per unit of the previous session.
At the close of business, UBN Property Plc was the most active stock by volume (year-to-date) with 15.5 million units of its shares sold for N16.8 million. Central Securities Clearing Systems (CSCS) Plc was in second place with 2.4 million units worth N37.8 million, while FrieslandCampina WAMCO Nigeria Plc held the third position with 1.9 million units worth N240.1 million.
However, FrieslandCampina WAMCO Nigeria Plc was the most traded stock by value (year-to-date) for transacting 1.9 million units valued at N240.1 million. NDEP Plc trailed with 487,711 units of its securities sold for N161.2 million, while CSCS has traded 2.4 million units worth N37.8 million.