Friesland Gains N4.40 to Lift NASD OTC Market by 0.84%

May 1, 2020
FrieslandCampina

By Adedapo Adesanya

FrieslandCampina WAMCO Nigeria Plc led the NASD Over-the-Counter (OTC) Securities Exchange into a positive territory for the first time this week on Thursday, April 30.

As transactions wrapped for the week, Friesland Plc recorded a surge in its share price, gaining N4.40 at the alternative bourse to close at N120 per share in contrast to N115.60 per share it previously traded. This indicated a 3.67 percent increase its share value.

This advancement in the company’s stock pushed NASD Unlisted Securities Index (NSI) up by 0.84 percent or 1.85 points to 700.73 points from 698.88 points on Wednesday.

This also pushed the market capitalisation up by 0.84 percent or N4.3 billion to N514.74 billion from the previous session’s N510.44 billion.

On the activity chart, a total of three deals were executed by market participants, lower than the five deals recorded on Wednesday.

Two of the three deals were from FrieslandCampina Plc, while the single deal was executed by Niger Delta Exploration and Production (NDEP) Plc.

Also, the total volume of shares transacted by investors during the session plummeted by 26.7 percent as 126,150 units of securities were exchanged compared with 172,124 units previously recorded.

In the same vein, the total value of stocks exchanged at the session decreased by 32 percent to N33.1 million from N48.8 million recorded on Wednesday. These transactions were done by FrieslandCampina Plc (N3.13 million) and NDEP Plc (N30 million).

At the close of business, ARM Life Plc still retained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. Food Concept Plc ended the day as the second most active stock with 110.0 million units worth N77 million, while Lighthouse Financial Services Plc occupied the third place with 48 million units traded at N24 billion.

ARM Life Plc also remained as the most active stock by value (year-to-date) with 7.4 billion units of its securities traded for N4.6 billion. NDEP Plc remained in second place with 6.8 million units transacted for N2.1 billion, while the day’s advancer, FrieslandCampina Plc, was in third spot with 2.4 million units worth N289 million.

Adedapo Adesanya

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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