NASD Index Rises 0.54% as FrieslandCampina, CSCS Rally

By Adedapo Adesanya

The duo of FrieslandCampina Wamco Nigeria Plc and Central Securities Clearing System (CSCS) Plc raised the NASD Over-the-Counter (OTC) Securities Exchange by 0.54 per cent on Tuesday, October 20.

FrieslandCampina added N3.25 to close at N142.75 per share compared with the previous day’s N139.50 per share, and CSCS Plc appreciated by N2.79 to N102.79 per unit from N100.00 per unit.

As a result, the market capitalisation improved by N14.06 billion to N2.614 trillion from N2.6 trillion, and the NASD Security Index (NSI) increased by 23.42 points to 4,355.33 points from 4,331.91 points.

Business Post reports that there were two price losers yesterday, led by Food Concepts Plc, which lost 23 Kobo to sell at N2.07 per share compared with the previous closing price of N2.30 per share, and Industrial and General Insurance (IGI) Plc dropped 1 Kobo to settle at 52 Kobo per unit versus 53 Kobo per unit.

The volume of securities recorded during the session slipped by 30.92 per cent to 985,682 units from 1.4 million units, the value of securities declined by 17.1 per cent to N22.2 million from the preceding session’s N26.8 million, and the number of deals fell by 15.2 per cent to 28 deals from 33 deals.

Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 81.9 million units exchanged 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 worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.