NASD Market Cap Rises N5.7bn After Stalemate for Two Days

By Adedapo Adesanya

After closing flat for two straight days, the NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.81 per cent on Wednesday.

The growth witnessed yesterday was driven by the positive price movement in the shares of FrieslandCampina WAMCO Nigeria Plc, one of the bellwethers of the exchange.

The equity value of the milk maker increased by N5.67 or 4.5 per cent at the midweek session to close at N133 per share in contrast to N127.33 per share it traded at the previous session.

The appreciation in the stock price of the firm expanded the market capitalisation of the bourse by N5.71 billion to close the day at N533.38 billion versus the preceding day’s N529.09 billion.

Also, it increased the NASD Unlisted Securities Index (NSI) by 3.97 points on Wednesday to 743.36 points from 737.39 points of the previous session.

During the session, the volume of shares traded by investors increased by 2,080.1 per cent to 45,783 units compared with the 2,100 units recorded on Tuesday.

These trades were made in five deals compared to the single deal of the preceding day, signifying 400.0 per cent rise in the number of deals.

The transactions, according to data from the exchange, amounted to N5.0 million compared with N289,800 achieved on Tuesday, representing an increase by 1,627.9 per cent.

Business Post reports that the market recorded a price loser yesterday and this was Central Securities Clearing Systems (CSCS) Plc, which lost 25 kobo or 1.5 per cent to end the day at N16 per unit in contrast to N16.25 per unit it was sold a day earlier.

At the close of business, UBN Property remained the most active stock (year-to-date) at the bourse for trading 15.1 million units of its shares for N16.3 million. CSCS Plc was in second place with 1.4 million units worth N22.2 million, while FrieslandCampina WAMCO Nigeria Plc held the third position with 715,645 units of its shares worth N89.1 million.

The highest number of stocks traded by value on a year-to-date basis was FrieslandCampina with 715,645 units of its securities traded for N89.1 million. The Niger Delta Exploration and Production (NDEP) Plc was in the second spot with 247,954 units of its securities valued at N86.2 million, followed by CSCS Plc with 1.4 million units valued at N22.2 million.