NASD Trading Platform Gains 0.14% as FrieslandCampina Stocks Rise

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated  by 0.14 per cent on  Wednesday, April 12, following a positive price movement in the stock price of FrieslandCampina WAMCO Nigeria Plc

The company, which makes Peak milk, was under fire for its Easter holiday advert material deemed offensive by Christians in Nigeria, performed strongly at the unlisted stock exchange yesterday as its shares grew by N1.19 each to settle at N81.38 per unit compared with the previous day’s N80.19 per unit. The milk maker later apologised for its action.

The performance of the firm suppressed the N5 loss posted by Niger Delta Exploration and Production (NDEP) Plc, closing at N210.00 per share versus Tuesday’s N215.00 per share.

At the close of business, the value of the NASD trading platform moved up by N1.42 billion as a result of the growth experienced by FrieslandCampina to N1.022 trillion from N1.020 trillion, and the NASD Unlisted Securities Index (NSI) increased by 1.03 points to wrap the session at 739.00 points compared with 737.79 points recorded at the previous session.

During the session, the volume of securities traded at the bourse by investors went down by 99.9 per cent to 583,227 units from the 513.5 million units achieved a day earlier.

Also, the value of shares traded by the market participants fell by 59.3 per cent to N17.6 million from N43.1 million, while the number of deals depreciated by 53.9 per cent to 20 deals from the 13 deals carried out in the preceding trading day.

Geo-Fluids Plc remained the most traded stock by volume on a year-to-date basis with 811.3 million units worth N1.3 billion, Industrial and General Insurance (IGI) Plc moved to second with 604.6 million units valued at N47.7 million, while UBN Property Plc slipped to third with 369.8 units valued at N313.0 million.

Also, VFD Group Plc was the most traded stock by value (year-to-date) with 10.4 million units worth N2.4 billion, trailed by Geo-Fluids Plc with 811.3 million units worth N1.3 billion, and UBN Property Plc with 369.8 million units valued at N313.0 million.