FrieslandCampina Lifts NASD OTC Bourse by 0.04%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) returned to the positive zone on Wednesday with a growth of 0.04 per cent, thanks to FrieslandCampina WAMCO Plc.

The share price of the milk producer closed 50 kobo or 0.2 per cent higher yesterday to N120.50 per unit compared with the previous closing price of N120.25 per unit.

This appreciation in the equity value of the company lifted the NASD Unlisted Security Index (NSI) higher by 0.29 points to 737.72 points from 737.43 points and increased the market capitalisation of the NASD OTC bourse by N60 million to N641.02 billion from N640.96 billion it closed in the preceding session.

During the session, there was a surge in the volume of securities traded by 1,174.7 per cent as investors transacted 5.7 million units compared with the previous day’s 446,143 units.

In the same vein, the value of shares traded at the midweek session rose by 587.9 per cent to N99.9 million from N14.5 million, while the number of deals increased by 133.3 per cent to 28 deals from 12 deals carried out on Tuesday.

At the close of transactions, Geo Fluids Plc was the most active stock by volume (year-to-date) as it has traded 1.0 billion units of its shares valued at N700.1 million. Nigerian Exchange (NGX) Group Plc occupied the second spot as it has traded 394.9 million securities worth N8.3 billion, while Food Concepts Plc managed third place for transacting 294.5 million units worth N385.5 million.

However, the most active stock by value on a year-to-date basis at the close of business yesterday was NGX Group Plc with the sale of 394.9 million stocks valued at N8.3 billion. It was closely followed by VFD Group Plc, which has transacted 6.3 million units worth N2.0 billion and Niger Delta Exploration and Production (NDEP) Plc, which has exchanged 3.3 million shares valued at N1.0 billion.