NASD Exchange Rises 0.26% as Friesland Hits N130.35 Per Share

By Adedapo Adesanya

Transactions at the NASD Over the Counter (OTC) Securities Exchange finished strong on Thursday, October 10, 2019, as both the major market barometers; the NASD Unlisted Security Index (NSI) and the market capitalization put on the green garments.

For the market capitalization, which depreciated on Wednesday, went up on Thursday by 0.26 percent or N1.32 billion to settle at N502.58 billion against the previous day’s N501.26 billion.

Similarly, the NASD Unlisted Security Index (NSI) appreciated by 0.26 percent or 1.83 points to finish the day’s trading session at 699.54 points, higher than the 697.71 points recorded on Wednesday.

However, the level of activity tumbled during the session as the volume of traded equities at the market went down by 91.67 percent or 361,484 units to 32,861 units from 394,345 units.

In the same vein, the value of these transactions declined by 60.64 percent or N6.7 million at the close of business on Thursday to N4.4 million from the N11.1 million achieved on Wednesday.

Following the same path was the number of deals executed, which also dropped by 40 percent or 4 deals. Business Post reports that investors only executed 9 deals at the session as against the 13 deals recorded the previous trading day.

During the market on Thursday, Friesland Campina Wamco Plc was the only listed company on the NASD trading platform that recorded a price movement as shares of the form gained N1.35 to trade at N130.35 per share from N129 per share it previously traded.

The top of trades position by volume (year to date) was still held by Food Concept Plc with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

Central Securities Clearing System (CSCS) Plc also retained top spot in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till yesterday, with UBN Properties following on the list with 884,529,600 units of its stocks sold for N1.2 billion.