Friesland, CSCS Trigger 2.33% Growth at NASD
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) returned to the positive zone on Wednesday as bullish price movement from two admitted securities lifted the bourse by 2.33 per cent.
The gainers were led by FrieslandCampina WAMCO Plc, which ended the session at N120 per unit after rising by N3.83 or 3.2 per cent. At the previous session, it closed at N116.17 per unit.
On its part, CSCS closed the session higher by N1.70 or 9.1 per cent to N18.70 per share from the previous closing price of N17 per share.
The duo suppressed the 18 kobo or 0.9 per cent loss reported by Nigerian Exchange (NGX) Group Plc yesterday, closing at N18.75 per share in contrast to its previous value of N18.93 per share.
At the close of business, the total value of securities on the alternative exchange increased by N12.24 billion to N537.47 billion from N525.23 billion it ended on Tuesday.
Also, the NASD Unlisted Security Index (NSI) increased by 17.22 points to finish the session at 738.91 points compared with 756.13 points of the previous session.
During the session, the trading volume increased by 329.68 per cent as 1.6 million units exchanged hands compared to the 336,354 units traded at the preceding session.
The trading value followed the same trend as it rose by 313.1 per cent due to the N34.1 million worth of securities transacted by investors on Wednesday, higher than the N8.3 million recorded on Tuesday.
Similarly, the number of deals improved by 70 per cent as 34 deals were executed by market participants at the session, higher than the 20 deals carried out a day earlier.
Of these trades, NGX Group accounted for 22 deals, Friesland accounted for six deals, CSCS Plc recorded four deals, while Afriland Properties Plc executed two deals.
NGX Group also closed the session as the company with the highest volume of traded stocks on a year-to-date basis with 273.7 million units worth N6.2 billion. Swap Technologies and Telecomms Plc was in second place with 46.6 million units worth N41 million, while CSCS Plc held the third position with 31.5 million units worth N494.3 million.
In terms of value, NGX Group also topped the chart with 273.7 million units traded for N6.2 billion, Niger Delta Exploration and Production (NDEP) Plc reported 2.9 million units valued at N900.6 million, while Friesland recorded 6.0 million units valued at N759.4 million.