Friesland, Nipco Boost NASD Exchange by 1.15%

NIPCO LPG Depot

By Adedapo Adesanya

FrieslandCampina WAMCO Nigeria Plc and Nipco Plc on Tuesday, September 15 ensured that the bulls remained as the NASD Over-the-Counter (OTC) Securities Exchange.

The sterling performance of the two securities extended the rally at the unlisted securities market by 1.15 per cent at the close of transactions.

FrieslandCampina Plc gained N5.31 or 4.07 per cent to close at N130.31 per share in contrast to N125 per share it closed on Monday. On its part, Nipco Plc recorded a price appreciation of 6.7 per cent or N4.69 to close at N70 per share versus N65.31 per share it last moved to in July.

As a result of these gains, the NASD unlisted securities index (NSI) jumped by 8.25 points to 727.12 points from 718.87 points, while the bourse’s market capitalisation increased by N6.06 billion to N534.12 billion from N528.06 billion.

During the trading session, investors transacted 1.02 million shares, higher than Monday’s 27,450 units by 3,628.8 per cent.

These came from 11 deals executed during the session at the exchange on securities belonging to Friesland Plc (five deals) while Niger Delta Exploration and Production (NDEP) Plc, Nipco Plc, Afriland Plc, Food Concept Plc, and VFD Group all recorded one deal each.

At the previous session, the value of transactions totalled N1.4 million but at the second trading session of the week, this increased by 5,367.3 per cent to N74.4 million.

By the close of trades, ARM Life Plc remained as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares transacted for N4.6 billion. Central Securities Clearing Systems (CSCS) Plc was in second place with 201.7 million units traded at N2.7 billion, while Food Concept Plc followed in third place with 125.1 million units traded at N88.1 million.

By value (year-to-date), ARM Life Plc still retained the top spot with a total of 7.4 billion units of its securities traded for N4.6 billion. NDEP Plc came in second place with 8.8 million units valued at N2.7 billion, while CSCC Plc in the third spot has traded 201.7 million units worth N2.7 billion.

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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