Friesland Lifts Unlisted Securities Market by 0.69% at Midweek

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.69 per cent appreciation on the back of bullish price movement from FrieslandCampina WAMCO Nigeria Plc on Wednesday, September 7.

FrieslandCampina WAMCO Nigeria Plc, which has been the best-performing stock this month, closed the day as the single price mover with a growth of N3.50 to settle at N90.00 per share compared with the previous closing price of N86.50 per share.

The appreciation in this stock raised the market capitalisation of the exchange by N6.83 billion to N997.41 billion from N990.58 billion.

Following the same trend, the NASD Unlisted Securities Index (NSI) grew by 5.19 points to wrap the session at 757.67 points compared with 752.48 points recorded in the previous session.

There was a rise in the volume of securities traded during the midweek session by 6.9 per cent as investors exchanged 10,979 units of securities compared to the 10,274 units of securities traded in the preceding session.

There was, however, a slump in the value of shares traded yesterday by 35.1 per cent to N1.1 million from the N1.6 million worth of stocks transaction on Tuesday.

During the session, according to data gathered from the bourse, the number of deals carried out was only two, 50 per cent lower than the four deals executed a day earlier.

At the close of business, AG Mortgage Plc remained the most traded stock by volume on a year-to-date basis with a turnover of 2.3 billion units worth N1.2 billion, while Central Securities Clearing System (CSCS) Plc stood in second place with 686.6 million units valued at N14.2 billion, with Food Concepts Plc in third place for trading 147.8 million units valued at N128.4 million.

In the same vein, CSCS Plc ended the trading session as the most traded stock by value on a year-to-date basis with the sale of 686.6 million units worth N14.2 billion, VFD Group Plc was in second place with 24.5 million units valued at N6.6 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place after exchanging 14.1 million units for N1.7 billion.