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CSCS, Friesland, Nipco Lift Market by 1.15%



By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rose by 1.15 percent on Friday, July 3, giving investors a reason to smile going into the weekend.

The day’s positive outcome came as a result of gains recorded in the stock prices of market heavyweights, Central Securities Clearing Systems (CSCS) Plc, FrieslandCampina WAMCO Nigeria Plc and Nipco Plc.

CSCS Plc saw its share price rise by N1.06 from N13.92 per share to N14.98 per share during the session. Also, Friesland Plc gained 63 kobo to close at N120.86 per share in contrast to N120.23 per share it closed on Thursday, while Nipco Plc saw a 31 kobo appreciation to close at N65.31 per share versus N65 per share it finished at the previous session.

As a result of the gains printed by these three stocks, the NASD unlisted securities index (NSI) jumped by 1.15 percent or 8.14 points to 716.96 points from 708.82 points recorded at the Thursday’s session, while the bourse’s market capitalisation closed at N526.65 billion from N520.68 billion after gaining N5.97 billion or 1.15 percent.

The session saw a total of 116,404 shares transacted by investors compared with Thursday’s 10,230 units, indicating a day-on-day rise of 1,018 percent.

These came from 11 deals executed during the session at the exchange on securities belonging to Friesland Plc (five deals), Niger Delta Exploration and Production (NDEP) Plc (three deals), Nipco Plc (two deals) and CSCS Plc (one deal).

At the previous session, the value of transactions totalled N34,890, but on Friday, this increased by 7,882 percent to N2.8 million.

By the close of trades, ARM Life Plc remained as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares transacted for N4.6 billion. CSCS Plc was in second place with 196.8 million units traded at N2.6 billion, while Food Concept Plc followed in third place with 110 million units traded at N80.5 million.

By value (year-to-date), ARM Life Plc still retained the top spot with a total of 7.4 billion units of its securities traded for N4.6 billion. CSCS Plc came in second place with 196.8 million units valued at N2.6 billion, while NDEP Plc in the third spot has traded 7.9 million units worth N2.4 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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