Economy
FrieslandCampina, IGI Push NASD OTC Market Higher by 0.44%
By Adedapo Adesanya
The duo of FrieslandCampina Wamco Nigeria Plc and Industrial and General Insurance (IGI) Plc helped extend gains at NASD Over-the-Counter (OTC) Securities Exchange by 0.44 per cent on Wednesday, October 28.
FrieslandCampina, known for its franchise brands Peak Milk and Three Crowns, gained N7.84 to close at N143.88 per unit compared with the preceding day’s N136.04 per unit, and IGI Plc added 5 Kobo to settle at 57 Kobo per share versus Tuesday’s closing price of 52 Kobo per share.
It was observed that there were three price losers during the midweek trading session: Central Securities Clearing System (CSCS) Plc, Food Concepts Plc, and Acorn Petroleum Plc.
CSCS Plc lost 85 Kobo to finish at N96.67 per unit versus N97.52 per unit, Food Concepts Plc depreciated by 2 Kobo to N2.08 per share from N2.10 per share, and Acorn Petroleum Plc weakened by 2 Kobo to N1.28 per unit from N1.30 per unit.
When the platform closed for the day, the market capitalisation increased by N11.34 billion to N2.589 trillion from N2.578 trillion, and the NASD Security Index (NSI) jumped by 18.89 points to 4,314.94 points from 4,296.05 points.
Yesterday, the volume of securities executed slumped by 96.2 per cent to 303,878 units from 8.0 million units, and the value of securities transacted declined by 42.5 per cent to N16.9 million from N29.5 million, while the number of deals improved by 18.8 per cent to 38 deals from 32 deals.
Great Nigeria Insurance (GNI) Plc ended the day as the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units traded for N6.5 billion, and CSCS Plc with 81.9 million units transacted for N6.0 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.
