Demand for Friesland Stocks Drives NASD OTC Bourse Higher by 1.36%

By Adedapo Adesanya

Shares of FrieslandCampina WAMCO Nigeria Plc have become the darling of investors at the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange, following the proposed payment of a final dividend to shareholders.

The demand for Friesland stocks at the market on Monday influenced the 1.36 per cent growth posted by the exchange during the session, keeping the bulls in control.

Friesland was not the only price gainer yesterday as NASD Plc and Industrial and General Insurance (IGI) Plc also witnessed increases in their respective stock prices.

Analysis showed that the milk-maker appreciated by N14.15 or 8.6 per cent to settle at N165.00 per unit compared with N150.85 per unit it closed last Friday, NASD Plc gained 32 kobo or 2.1 per cent to trade at N14.82 per share versus the previous N14.50 per share, while IGI Plc rose by one kobo or 11.10 per cent to quote at 9 kobo per unit as against last Friday’s value of 8 kobo per unit.

Business Post reports that the session was not without a price loser and this was Central Securities Clearing System (CSCS) Plc, which slumped by 18 kobo or 1.2 per cent to finish at N15.66 per share versus N15.84 per share.

But at the close of business, the NASD Unlisted Securities Index (NSI) increased by 10.03 points to wrap the day at 748.90 points compared with 738.87 points of the previous session, while the market capitalisation jumped by N13.2 billion to N984.72 billion from N971.52 billion.

A look at the activity chart showed that the trading volume increased on Monday by 150 per cent to 2.5 million units from 1.0 million units, the trading value went down by 46.9 per cent to N29.2 million from N54.9 million, while the number of deals rose by 32.1 per cent to 37 deals from 28 deals.

AG Mortgage Bank Plc maintained its spot as the most traded stock by volume (year-to-date) with 2.3 billion units valued at N1.2 billion, CSCS Plc followed with 660.6 million units worth N13.9 billion, while NASD Plc has transacted 43.3 million units valued at N466.6 million.

But the most traded stock by value (year-to-date) yesterday was CSCS Plc with 660.6 million units worth N13.9 billion, AG Mortgage Plc was in second place with 2.3 billion units valued at N1.2 billion, while Friesland has exchanged 4.0 million units for N507.0 million.