NASD Gains 0.71% as Friesland Stocks Hits N200 Per Unit

By Adedapo Adesanya

For the ninth straight session, FrieslandCampina WAMCO Nigeria Plc appreciated in value at the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange, lifting the bourse higher by 0.71 per cent on Thursday.

The Friesland stocks gained N7.60 or 3.8 per cent yesterday to close at N200.00 per unit in contrast to the N192.40 per unit it traded on Wednesday.

Business Post reports that the rise in the price of the stock moved the market capitalisation of the exchange higher by N7.28 billion to N1.03 trillion from N1.02 trillion.

Also, the NASD Unlisted Securities Index (NSI) appreciated for the fourth time this week by 5.53 points to wrap the session at 780.25 points compared with 774.72 points in the previous session.

It was observed that Industrial and General Insurance (IGI) Plc ended the day as the sole price loser as its value dropped one kobo or 12.5 per cent to settle at 8 kobo per share as against the 9 kobo per share it finished a day earlier.

At the trading day, there was an increase in the volume of securities traded by market participants by 719.1 per cent to 1.2 million units from the previous trading day’s 149,619 units.

But the value of the shares bought and sold by investors reduced by 33.7 per cent to N18.5 million from the N27.9 million achieved at the midweek session, with the number of deals decreasing by 26.3 per cent to 14 deals from 19 deals.

At the close of transactions, AG Mortgage Bank Plc was the most traded stock by volume (year-to-date) as it has transacted 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc has exchanged 660.7 million units for N13.9 billion, while NASD Plc has sold 43.3 million units worth N466.6 million.

The most traded stock by value (year-to-date), however, was CSCS Plc with 660.7 million units worth N13.9 billion, AG Mortgage Plc was second with 2.3 billion units worth N1.2 billion, while FrieslandCampina WAMCO Plc was in third place with 4.6 million units valued at N624.9 million.