Friesland Buoys NASD Exchange 0.61% Growth Friday

By Adedapo Adesanya

Food processing company, FrieslandCampina Wamco Plc, posted a good performance on the floor of the NASD Over-The-Counter (OTC) Securities Exchange on Friday, January 10, 2020.

This helped the platform closed 0.61 percent higher at the close of market as the NASD Unlisted Security Index (NSI) went up by 4.24 points during the session to settle at 702.28 points in contrast to 698.04 points it recorded at the previous session. In the same vein, the market capitalisation increased at the session by N3.05 billion to N504.54 billion, higher than the N501.49 billion it quoted on Thursday.

Business Post reports that Friesland recorded a N3.12 gain equivalent to 2.50 percent to finish the day’s trading session as the only gainer at N125 per share in contrast to N121.88 per unit it closed at Thursday’s session.

The activity level showed that the volume of shares transacted on Friday reduced by 26.4 percent or 3,640 units to 10,170 units from 13,810 units of the previous day.

Similarly, the total value of shares transacted by investors fell by 42.0 percent or N0.9 million to N1.3 million from N2.2 million worth of stocks exchanged during Thursday’s session. The bourse also recorded a drop in the number of deals as four deals were executed at the session compared with nine deals carried out previously.

Niger Delta Exploration and Production (NDEP) Plc ended the day as the most traded stock by value (year-to-date) with 80,595 stocks traded for N25.5 million, while ARM Life Plc followed with 29 million shares transacted for N18.3 million, with NIPCO Plc selling 80,150 units worth N5.5 million.

But in terms of the most active stock by volume (year-to-date), ARM Life Plc came first with 29 million units of its shares exchanged for N18.3 million, while Niger Delta Exploration and Production (NDEP) Plc came second with 80,595 units traded at N25.5 million, with NIPCO Plc third with 80,150 units traded at N5.5 million.