Friesland Lifts Unlisted Securities Market by 0.86%

July 29, 2022
Friesland WAMCO
Image Credit: PM News

By Adedapo Adesanya

FrieslandCampina WAMCO Nigeria Plc was the hero that pushed the National Association of Securities Dealer (NASD) Over-the-Counter (OTC) Securities Exchange into the bullish region on Thursday, July 28 after the market ended in a stalemate the day before.

The stock raised the market by 0.86 per cent, with the total value of securities on the trading platform expanding by N9.73 billion into N1.030  trillion from N1.021 trillion as the NASD Unlisted Securities Index (NSI) went up by 6.64 points to wrap the session at 782.44 points compared with 775.80 points in the previous session.

On Thursday, the stock price of the milk producer rose by N4.50 to N104.50 per share compared with the previous session’s N100.00 per share.

On the flip side, Central Securities Clearing System (CSCS) Plc was the only price loser as its stocks lost 1 Kobo to sell at N14.91 per unit versus N14.92 per unit of the prior day.

The day’s trading activity revealed that there was an increase in the volume of securities traded at the bourse as investors bought and sold 140,892 units compared to the previous trading day’s 5,312 units, showing a 2,552.3 per cent rise.

Value of shares similarly went in the same direction as traders transacted N6.8 million worth of stocks compared with the previous day’s N581,320.40 worth of stocks traded at the midweek session, indicating a 1,071.8 per cent growth.

This came from 16 deals executed at the session, 700 per cent higher than the seven deals carried out a day earlier.

AG Mortgage Bank Plc remained the most traded stock with 2.3 billion units valued at N1.2 billion, CSCS Plc stood in second place with 682.6 million units worth N14.2 billion, while Food Concepts Plc was in third place with 146.5 million units valued at N127.2 million.

CSCS Plc, with the sale of 682.6 million units exchanged for N14.2 billion, remained as the most traded stock by value. VFD Group Plc was in second place with 11.1 million units valued at N3.3 billion, while FrieslandCampina WAMCO Nigeria Plc has exchanged 13.5 billion units valued at N1.6 billion.

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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