Adedapo Adesanya
By Adedapo Adesanya
After three days of wallowing in the danger zone this week, the NASD Over-the-Counter (OTC) Securities Exchange recorded its first growth on Thursday.
This was mainly boosted by the positive performance put up by one of the market’s bellwethers, FrieslandCampina WAMCO Nigeria Plc.
As the session came to a close, the NASD Unlisted Securities Index (NSI) rose by 0.97 percent or 6.63 points to finish at 689.69 points compared with 683.06 points it finished on Wednesday.
In addition, the market capitalisation equally appreciated by 0.97 percent or N4.85 billion to settle at N506.62 billion in contrast to the previous day’s N501.77 billion.
The day’s sole advancer, FrieslandCampina Plc, recorded a price appreciation of N4.97 to close at N120 per share as against N115.03 per share it was sold at the midweek session.
The top milk manufacturer also dominated the number of deals executed by investors at the market yesterday. Of the four deals recorded during the session, Friesland had 75 percent of the deals (three), while Nipco Plc had 25 percent (one). These four deals recorded at the exchange on Thursday were 100 percent higher than the two deals carried out at the previous trading session.
Furthermore, there was a significant rise in the trading value on Thursday. Business Post reports that the total value of stocks traded by investors increased by 14,131 percent to N2.2 million from N15,150 actualised on Wednesday.
Equally, the trading volume improved by 298 percent during the session to 20,300 units from 5,100 units recorded at the previous trading day.
ARM Life Plc closed the session as the most traded security by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion, while Food Concept Plc was in second place with 110.0 million units worth N77.0 million, with Central Securities Clearing System (CSCS) Plc in third position with 17.3 million units valued at N199.4 million.
In terms of the most active stock by value (year-to-date), ARM Life Plc remained on top of the log with 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 6.4 million units exchanged for N1.99 billion, while FrieslandCampina WAMCO Nigeria Plc traded 1.9 million units of its securities for N240 million.
