Friesland, CSCS Elevate Unlisted Securities by 1.27%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange ended the week on a positive note on Friday, appreciating by 1.27 per cent at the close of transactions.

The elevation witnessed in the unlisted securities market during the session was influenced by bellwethers; FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.

At the trading day, the share price of Friesland moved up by N5.52 or 4.5 per cent to settle at N127.33 per share in contrast to N121.81 per share it closed at the previous session.

Also, the equity value of CSCS Plc grew by 25 kobo or 1.6 per cent to close the trading session at N16.25 per unit as against N16 per unit of the preceding day.

As a result of the performance of the two securities, the market capitalisation of the NASD OTC Exchange increased by N6.64 billion to N529.09 billion from N522.45 billion, while the NASD Unlisted Security Index (NSI) appreciated by 9.25 points to settle at 737.39 points compared with 728.14 points it finished at the previous session.

However, the level of activity decreased on Friday as a result of the 35,915 units of stocks traded by market participants compared to the 975,000 units of shares exchanged the previous day, representing a decline by 96.3 per cent.

In the same vein, the total value of shares transacted by investors fell, this time by 78.1 per cent to N3.4 million from N15.6 million exchanged at the earlier session.

But the number of deals achieved during the session improved as a total of 11 deals were executed by market participants compared with the three deals carried out a day before, indicating a 266.67 per cent growth.

The 11 deals recorded on Friday were carried out on two companies, with Friesland accounting for nine, while CSCS accounted for two deals.

When the market closed for the day, UBN Property Plc was the most active stock on a year-to-date basis with the sale of 15.1 million shares worth N16.3 million. It was trailed by CSCS Plc, which has traded 1.4 million units of its securities valued at N22.1 million, and Friesland, which has transacted 676,550 units valued at N83.9 million.

But the most active stock by value on a year-to-date basis was Niger Delta Exploration and Production (NDEP) with the sale of 247,650 units of its shares worth N86.2 million. Friesland followed for selling 676,550 units worth N83.9 million, while CSCS Plc held the third position for exchanging 1.4 million securities valued at N22.1 million.