NASD Lost N4.2bn as Friesland Campina, NIPCO Drop

NASD Lost N4.2bn as Friesland Campina, NIPCO Drop

NASD over-the-counter (OTC) securities Exchange market dips on Thursday as investors reduce their shares holding in a number of unlisted companies.

Friesland Campina WAMCO and NIPCO shares nosedived due to lower buying interest. WAMCO dropped by 3.13% while NIPCO declined by 3.33%. Niger Delta Exploration and Production share inched higher by 5.67% but CitiTrust and VFD Group were flattish.

Trading data shows that across the over-the-counter (OTC) market, the NASD index dipped by 0.42% in the session to close at 762.12 basis points. Today, market capitalisation inched lower to N1.003 trillion as investors record a N4.2 billion loss as numbers of deals declined 14.3%. 

APT Securities & Funds traders note shows that market activity as measured by the volume of trades also nosedived in the session.  A total of 121,600 shares were traded in 6 deals as against a volume of 9.337 million units traded in 7 deals in the previous session.

This translates to a 98.70% downtick in a volume of trades as executed deals dipped by 14.29%, according to trading data. READ: NASD OTC Rises N3.4 bln as NIPCO, CSCS Rally

The value of those traded shares stood at N9.114 million representing a 92.58% drop from a value of N122.857 million recorded in the previous session, according to market note. # NASD Lost N4.2bn as Friesland Campina, NIPCO Drop

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