Friesland Retains Bulls at NASD Bourse After N3 Gain

By Adedapo Adesanya

The bulls tightened their grip on the NASD Over-the-Counter (OTC) Securities Exchange on Thursday on the back of a 0.33 per cent growth posted at the close of transactions.

The stay of the bulls was influenced by the 2.5 per cent of N3 growth printed by FrieslandCampina WAMCO Nigeria Plc as its share price ended at N118.00 per unit as against N115.00 per unit of the last session.

This helped to overpower the loss reported by Acorn Petroleum Plc, which depreciated by 7.1 per cent or one kobo to close at 14 kobo per share in contrast to 15 kobo per share it finished on Wednesday.

Also, the share price of NASD Plc depreciated during the session by 11.0 per cent or N1.82 to trade at N16.50 per unit compared with the previous close of N18.32 per unit.

At the close of transactions, the NASD unlisted securities index (NSI) moved up by 2.48 points to settle at 746.65 points as against 744.17 points it closed at the midweek session, while the market capitalisation of the NASD bourse gained N2.1 billion to wrap the day at N632.25 billion compared with N630.15 billion it finished a day earlier.

During the day, the trading volume slid by 86.1 per cent as a total of 427,942 units of shares exchanged hands compared with the 3.1 million units transacted on Wednesday.

Also, the trading value fell by 84.1 per cent to N7.5 million from the previous day’s N47.3 million, while the number of deals declined by 30.8 per cent to nine deals as against the 13 deals recorded at the previous session.

Central Securities Clearing Systems (CSCS) Plc remained as the most traded security by volume on a year-to-date basis with a turnover of 653.7 million units sold for N13.7 billion. NASD Plc trailed with 2.3 million units valued at N40.7 million, while Food Concepts Plc has so far traded 1.0 million units worth N810,000.

Similarly, CSCS Plc was also the most traded stock by value on a year-to-date basis with 653.7 million units traded for N13.7 billion, VFD Group Plc followed with 916,161 units worth N331.5 million, while NASD Plc has traded 2.3 million units traded for N40.7 million.