Friesland Opens Week Bullish on NASD Exchange

March 9, 2021
Friesland WAMCO

By Adedapo Adesanya

The bulls were dominant on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Monday, leaving the market 1.89 per cent higher.

The growth recorded at the first trading session of the week was influenced by the gains printed by the shares of FrieslandCampina WAMCO Nigeria Plc.

Business Post reports that during the session, the equity price of the milk producer appreciated by N9.66 to close at N130 per share as against the previous N120.34 per share.

As a result, the market capitalisation of the bourse was boosted by N9.43 billion to N509.75 billion from N500.32 billion it closed last Friday.

Similarly, the NASD Unlisted Security Index (NSI) skyrocketed by 13.14 points at the close of transactions yesterday to 710.44 points from 697.30 points.

However, despite the growth recorded at the market on Monday, there was a decrease in the volume of transactions by investors by 36.0 per cent as only 75,500 units of securities were traded in contrast to 117,995 units recorded at the preceding session.

In the same vein, the total value of shares traded by market participants reduced by 30.9 per cent to N9.8 million from N14.2 million.

Also, there was a drop in the total number of deals executed at the market by 50 per cent as only a single deal was carried out in contrast to the two deals executed last Friday and it was on FrieslandCampina WAMCO Nigeria Plc.

At the close of trading activities, UBN Property Plc was the most traded stock by volume (year to date) with 15.5 million units valued at N16.8 billion. Central Securities Clearing Systems (CSCS) Plc followed in second place with 4.7 million units worth N74.6 million, while Friesland held the third position with 2.9 million units worth N356.2 million.

In terms of the most traded stock by value (year-to-date), Friesland maintained its top position for transacting 2.9 million units valued at N356.2 million. Niger Delta Exploration and Production (NDEP) Plc occupied the second spot with 612,249 units of its securities valued at N198.1 million, while CSCS Plc has traded 4.7 million units worth N74.6 million.

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.

Leave a Reply

Chika Ekeji
Previous Story

MTN Selects Chika Ekeji to Accelerate Strategic Growth

Saudi Facilities
Next Story

Oil Suffers Significant Fall Amid Attack on Saudi Facilities

Latest from Economy

Don't Miss