Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 2.04 per cent expansion on Monday, driven by the positive price movement in the shares of FrieslandCampina WAMCO Nigeria Plc.
The share price of the milk-producing firm appreciated by N10.90 or 8.9 per cent yesterday to close the session at N132.90 per share in contrast to N122 per share it traded at the previous session.
The growth in the stock price of the company boosted the market capitalisation of the bourse by N10.64 billion to close the day at N531.05 billion versus N520.41 billion it ended last Friday.
The milk maker also increased the NASD Unlisted Securities Index (NSI) by 14.83 points to wrap the opening day of the week at 740.12 points compared with 725.29 points of the previous session.
During the trading day, the total of unlisted securities transacted by investors increased by 145.0 per cent to 46,726 units from 19,070 units last Friday.
Likewise, the value of shares exchanged by market participants rose b 469.6 per cent to N6.1 million from the preceding session’s N1.1 million.
These trades were carried out in five deals, 25.0 per cent higher than the four deals executed by the market participants the earlier trading day.
Business Post observed that these deals were carried out on only two stocks, with FrieslandCampina accounting for four deals, while Central Securities Clearing Systems (CSCS) Plc accounted for one deal.
The unlisted securities market closed on Monday with no price decliner.
UBN Property Plc remained as the most active stock by volume (year-to-date) for trading 15.1 million units of its shares for N16.3 million. CSCS Plc was in second place with 2.4 million units worth N37.2 million, while FrieslandCampina held the third position with 1.9 million units of its shares worth N236.5 million.
However, the company with the highest value of shares transacted by investors on a year-to-date basis was FrieslandCampina with 1.9 million units of its securities sold for N236.5 million. Niger Delta Exploration and Production (NDEP) Plc remained in the second spot for exchanging 279,756 units of its securities valued at N236.5 million, while CSCS Plc has transacted 2.4 million units valued at N37.2 million.
