By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 28 continued its positive run into the new week as the unlisted securities market reached its highest point since the beginning of the year.
At the session, the total value of equities trading on the bourse increased by 0.07 per cent or N400 million to N538.52 billion from N538.12 billion.
This appreciation was boosted by a bellwether stock, FrieslandCampina WAMCO Nigeria Plc, which recorded another jump in price. The milk producer moved up further by 41 kobo or 0.3 per cent to N137.91 per share from N137.50 per share it closed last Friday.
Business Post had reported that following the progress towards the expansion of the company, its stock price rose by 5.5 per cent last week. The company is buying the milk business of PZ Cussons and this deal is aimed to give more value to shareholders.
At the close of transactions on Monday, the NASD Unlisted Security Index (NSI) rose by 0.07 per cent or 0.54 points to 733.11 points from 732.57 points of the previous session.
On the activity chart, there was a significant rise in the total volume of securities traded on Monday by investors by 645.7 per cent as a total of 37,284 stocks exchanged hands as against the 5,000 units of securities transacted at the last session.
These trades came from seven deals executed on three stocks during the session, with FrieslandCampina accounting for five deals, while UBN Properties Plc and Central Securities Clearing Systems (CSCS) Plc accounted for one deal each.
At the preceding session, only a single deal was executed by investors, indicating a 600 per cent increase in the number of deals yesterday.
At the close of transactions, the total value of the trades carried out at the market on Monday increased by 508.4 per cent to N4.2 million from N687,500.
ARM Life Plc still maintained its position on the activity chart on Monday, closing as the most active stock by volume (year-to-date) after trading 7.4 billion units of its shares worth N4.6 billion.
CSCS Plc was in second place with 203 million units worth N2.7 billion, while Food Concepts Plc held the third position with 128.1 million units of its shares worth N90.2 million.
Equally, ARM Life Plc remained the company with the highest value of stocks traded by investors since the beginning of the trading year for selling 7.4 billion units of securities worth N4.6 billion.
Niger Delta Exploration and Production (NDEP) Plc followed with 8.8 million units valued at N2.7 billion, while CSCS Plc has traded 203 million units valued at N2.7 billion.
Dipo Olowookere