Friesland Lifts Unlisted Securities Market by 0.18%

By Adedapo Adesanya

The unlisted securities market appreciated by 0.18 per cent on Tuesday and this was majorly influenced by the growth in the share price of FrieslandCampina WAMCO Plc.

Business Post reports that the milk producer closed the session at N127.25 per unit compared with the previous N120.08 per unit after its value went up by N7.17 or 5.6 per cent.

This pushed the total value of securities on the NASD Over-the-Counter (OTC) Securities Exchange higher by N1.16 billion to N656.09 billion from N654.93 billion it closed on Monday.

Also, it lifted the NASD Unlisted Security Index (NSI) by 1.33 points to wrap the session at 754.85 points compared with 753.52 points recorded at the previous session.

From the data obtained from the exchange, the gains posted by Friesland outweighed the losses printed by two securities during the session; Central Securities Clearing Systems (CSCS) Plc and Nigerian Exchange (NGX) Group Plc.

CSCS Plc lost N1.09 or 6.4 per cent to close at N17.11 per share as against N18.20 per share of the preceding day, while NGX Group went down by 20 kobo or 1.2 per cent to finish at N17.29 per unit in contrast to the prior day’s N17.49 per unit.

A check on the level of activity on Tuesday at the NASD Exchange showed that the trading volume witnessed a surge of 5,321.4 per cent as investors traded 290.3 million stocks versus 5.4 million stocks on Monday.

Also, the trading value increased by 341.9 per cent to N416.3 million from N94.2 million, while the number of deals regrettably went down by 20.00 per cent to 36 deals from 45 deals.

Geo Fluids Plc finished the day as the most active stock by volume on a year-to-date basis with 1.0 billion units of its stocks sold for N700.1 million. NGX Group trailed with 355.2 million units valued at N7.6 billion, Food Concepts Plc has transacted 292.0 million units worth N383.6 million.

But NGX Group ended the day as the most traded stock by value on a year-to-date basis with 355.2 million units of securities sold for N7.6 billion. VFD Group Plc followed with 4.1 million units worth N1.3 billion, while Niger Delta Exploration and Production (NDEP) Plc has exchanged 3.2 million units for N976.2 million.