Adedapo Adesanya
By Adedapo Adesanya
The bullish momentum at the NASD Over-the-Counter (OTC) Securities Exchange was extended into a second day, thanks to another price hike in the shares of FrieslandCampina WAMCO Nigeria Plc.
On Tuesday, the unlisted securities market recorded a 0.24 per cent appreciation as a result of the positive performance from the milk-producing company.
At the close of business, the NASD Unlisted Security Index (NSI) climbed up by 1.75 points to settle at 740.34 points as against 738.59 points recorded at the previous session.
In the same vein, the NASD Exchange market capitalisation increased by N1.25 billion to N531.20 billion from N529.95 billion it quoted on Monday.
Business Post reports that yesterday, the equity price of FrieslandCampina moved up by N3.50 per cent or 2.6 per cent to settle at N138.50 per share in contrast to N135 per share it closed at the previous session.
On the activity chart, there was a sharp rise in the day’s turnover as investors traded 635,707 units of securities compared to 99,583 units of shares exchanged at the opening session of the week, indicating a 538.4 per cent increase.
Also, the total value of shares transacted by traders rose by 19.1 per cent to N8.9 million from N7.5 million exchanged at the last session.
Equally, there was a rise in the number of deals achieved during the trading day as eight deals were executed by market participants on four companies compared with three deals carried out a day before.
A breakdown showed that the deals were carried out on FrieslandCampina WAMCO Nigeria Plc (four deals), Afriland Plc (two deals) while the Nipco Plc and Mixta Real Estate Plc both made a single deal each.
FrieslandCampina WAMCO was the not the day’s price mover as Mixta Real Estate Plc witnessed a negative price movement, shedding 22 kobo or 10 per cent off its stock price as it ended the session at N1.98 per unit as against N2.20 per unit of the previous day.
At the close of transactions, UBN Property Plc remained the firm with the highest volume of traded stocks since the trading year started. It has traded 15.5 million units of its securities for N16.8 million. Central Securities Clearing Systems (CSCS) Plc has transacted 3.0 million units valued at N46.0 million, while FrieslandCampina has exchanged 2.0 million units valued at N253 million.
But in terms of the trading value on a year-to-date basis, FrieslandCampina topped the chart with 2.0 million units worth N253 million, Niger Delta Exploration and Production (NDEP) Plc has sold 488,711 units worth N161.5 million, while CSCS Plc has traded 3.0 million units worth N46.0 million.
