Friesland WAMCO Lifts NASD Exchange by 0.14%

By Adedapo Adesanya

Friesland Wamco Plc ended the first day of the new trading week as the only price gainer on the NASD Over the Counter (OTC) Securities Exchange, helping to push the market to a positive territory.

At the close of transactions on Monday, November 25, 2019 at the NASD OTC market, share price of the popular milk maker appreciated by 74 Kobo or 0.57 percent to N128.72 per share from N127.98 per share.

This spurred the key parameters, the NASD Unlisted Security Index (NSI) and the market capitalisation to close strong yesterday after closing flat at the end of last week.

While the market capitalisation rose by 0.14 percent to N508.57 billion from to N507.85 billion, the NSI also gained 0.14 percent to settle at 707.88 points from 706.88 points.

Despite this, the market recorded a drop in total volume of shares transacted on Monday as it plunged by 38.2 percent to 1,051,550 units compared with the 1,700,413 units realized at the last trading session.

Also taking the hit on Monday was the total value of securities traded by investors at the market, which dropped by 9.9 percent to N306.8 million in contrast to N340.8 million worth of shares reported at the preceding trading session.

Business Post reports that the total number of deals printed yesterday also dropped by seven deals as only 10 deals were executed by traders compared with 17 deals at the previous session.

Meanwhile, Food Concept Plc still held down the top of trades position by volume (year to date) with the sale of 1,158,828,284 units of its shares valued at N844 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

However, in terms of value, Central Securities Clearing System (CSCS) Plc still holds the top spot with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, while UBN Properties followed with 884,529,600 units of its stocks sold for N1.2 billion.