FrieslandCampina Consolidates Gains on NASD Exchange


By Adedapo Adesanya

For the second trading day, FrieslandCampina WAMCO Nigeria Plc recorded growth on the floor of the NASD Over-the-Counter OTC Securities Exchange.

The performance of the milk maker contributed to the 0.54 per cent gained by the unlisted securities market at the close of business on Tuesday, October 27.

Consequently, the NASD Unlisted Security Index (NSI) increased by 3.99 points when activities were wrapped up yesterday to 740.74 points from the 736.75 points quoted a day earlier.

In the same vein, the milk-producing company boosted the market capitalisation of the bourse by N2.93 billion to finish at N544.12 billion in contrast to N541.19 billion it ended on Monday.

According to data from the exchange, FrieslandCampina WAMCO Nigeria Plc further gained N3 or 2.19 per cent on Tuesday to close at N140 per share versus N137 per share of the previous day.

Business Post reports that there was an improvement in the trading volume at the unlisted securities market yesterday as a total of 55,125 stocks were traded at the session, 387.3 per cent higher than the 11,313 units traded at the first trading session of the week.

Similarly, the value of securities traded by investors at the second session of the week rose to N1.4 million, 33.0 per cent more than the previous session’s N1.1 million.

However, the number of deals were flat at three deals and they were executed on shares of two companies; FrieslandCampina and Central Securities Clearing Systems (CSCS) Plc.

While FrieslandCampina accounted for two deals, CSCS traded a single deal.

ARM Life Plc remained as the company with the highest number of traded securities on a year-to-date basis, exchanging 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place for transacting 203.3 million units worth N2.7 billion, while Food Concept Plc has traded 128.1 million units of its shares worth N90.2 million.

Also, ARM Life maintained its top spot as the most traded stock by value (year-to-date) after exchanging 7.4 billion units valued at N4.6 billion, while the Niger Delta Exploration and Production (NDEP) Plc followed with 10.4 million units worth N3.2 billion, with CSCS Plc in the third spot for transacting 203.3 million units valued at 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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