Friesland Stocks Gain N10.54 to Lift NASD OTC Market by 1.57%

By Adedapo Adesanya

FrieslandCampina WAMCO Nigeria Plc raised the NASD Over-the-Counter (OTC) Securities Exchange by 1.57 per cent on Tuesday after staying in the danger zone for a while.

This was because Friesland stocks appreciated during the session by N10.54 or 8.4 per cent to settle at N125.00 per unit compared with the previous N114.46 per unit.

The growth recorded by the milk-producing company overpowered the 11.1 per cent or N1.04 loss posted by NASD Plc as it closed the day at N9.41 per share as against N10.45 per share it ended on Monday.

At the close of business, the market capitalisation of the exchange increased by N9.83 billion to N634.46 billion from N624.63 billion, while the NASD Unlisted Securities Index (NSI) went up by 11.61 basis points to 749.26 points from 737.65 points.

In terms of the volume of securities traded at the bourse, investors exchanged 1.3 million units compared with the 108,785 units transacted a day earlier, indicating a 1,114.8 per cent rise.

In the same pattern, there was a surge in the value of shares traded by investors by 1,608.5 per cent to N161.6 million from the N9.5 million made previously.

However, these transactions were carried out in five deals, 66.7 per cent lower than the 15 deals carried out at the preceding session.

When the market closed for the day, Central Securities Clearing Systems (CSCS) Plc remained as the most traded stock by volume on a year-to-date basis with 653.9 million units sold for N13.7 billion. NASD Plc recorded 2.9 million units valued at N48.4 million, while Food Concepts Plc posted 2.0 million units worth N1.6 million.

On the flip side, CSCS Plc was also the most traded stock by value on a year-to-date basis with 653.9 million units valued at N13.7 billion, followed by VFD Group Plc with 916,161 units worth N331.5 million, and FrieslandCampina WAMCO Nigeria Plc with 1.9 million units sold for N235.4 million.