Friesland Influences NASD Exchange’s 0.14% Growth Wednesday

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By Adedapo Adesanya

For the first time in a while, transactions on the NASD Over-the-Counter (OTC) Securities Exchange ended in the positive territory on Wednesday, December 11, 2019.

Business Post reports that in the past session, the market had been closing flat, but that upturned yesterday as a result of the positive performance of FrieslandCampina Wamco Plc.

The company, which has been making efforts to expand its operations in Nigeria by signing deals with state governments to grow its dairy products, was the lone price mover in the day.

At the close of business share price of the food processing firm appreciated by 72 Kobo to close at N120 per share against N119.28 per share it settled at the previous session.

This performance helped in the 0.14 percent growth printed by the exchange at the midweek session, resulting in the NASD Unlisted Securities Index (NSI) rising by 0.98 points to 693.22 points from 692.24 points. In the same vein, the market capitalisation appreciated by N710 million to N498.04 billion from N497.33 billion.

The activity level was better yesterday with the volume of shares traded by investors, the value of the transactions and the number of deals executed all pointed north at the close of business.

This was in contrast to what happened at the market at the previous trading session, which saw the trading volume dropping to 7,895 units. But at the midweek session, this rose significantly by 7,862 percent to 628,568 units.

Securities worth N77.8 million exchanged hands during the session, 67,472 percent higher than the N115,072.50 worth of shares traded on Tuesday, while the number of deals rose by 75 percent or three deals to 7 deals from 4 deals at the previous session.

The most active stock by volume (year-to-date) remained Food Concept Plc with 1,158,828,284 units of the company’s shares traded for N844.0 million, while UBN Properties followed with 941,318,597 units worth N1.27 billion.

But in terms of value (year-to-date), Central Securities Clearing System (CSCS) Plc is the most traded stock with 202,272,698 units worth N2.53 billion, while UBN Properties stays second on the log with 884,529,600 units of its securities sold for N1.2 billion.

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