Adedapo Adesanya
By Adedapo Adesanya
Tuesday’s trading session at the NASD Over-the-Counter (OTC) maintained its positive status after appreciating by 0.35 per cent at the close of transactions.
This happened as the stock price of FrieslandCampina WAMCO Nigeria further appreciated on the back of the successful take over of PZ Cussons’ dairy business.
The company on Tuesday announced that it has completed the acquisition of PZ’s dairy production facility in Ikorodu, Lagos.
In essence, the deal makes it the owners of Olympic, Coast and Nunu, PZ Nutricima’s range of milk products. FrieslandCampina WAMCO Nigeria Plc also produces Peak and Three Crown milk.
At the close of business yesterday, the share price of the company appreciated by N1.99 or 1.44 per cent to N139.91 per unit from N137.91 per unit.
The growth propelled the NASD Unlisted Security Index (NSI) higher by 0.35 per cent or 2.54 points to settle at 735.65 points in contrast to the 733.11 points it finished the previous day.
In the same vein, it pushed the market capitalisation higher by 0.35 per cent or N1.87 billion to N540.39 billion from N538.52 billion it finished at the previous session, a new high in 2020.
In the other parameters tracked, the volume of shares transacted by investors increased. A total of 2.2 million units of shares were traded at the market compared with the previous day’s 37,284 units, representing a 5,835.6 per cent increment.
In the same trend, the value of the trades received an 11,152 per cent boost to N472.6 million from the previous trading session’s N4.2 million.
Similarly, the total number of deals went up by six or 85.7 per cent as 13 deals were executed during the session compared with seven deals published at the previous session.
The session’s trade summary revealed that FrieslandCampina WAMCO Nigeria Plc, Afriland Properties Plc and Niger Delta Exploration and Production (NDEP) Plc all executed four deals each, while Central Securities Clearing Systems (CSCS) Plc made a deal at the exchange.
NDEP Plc was the day’s only decliner as the oil and gas investment company shed 44 kobo or 0.14 per cent to close at N311.94 per share against N312.38 per share it sold on Monday.
In terms of the trading value by year-to-date, ARM Life Plc maintained the top spot with 7.4 billion units of its securities traded for N4.6 billion, while NDEP Plc followed for transacting 10.4 million units of its stocks for N3.2 billion, with CSCS Plc selling N203 million units valued at N2.7 billion.
ARM Life Plc equally claimed the top spot as the most traded stock by volume (year-to-date), exchanging 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place for trading 203 million units for N2.7 billion, while Food Concepts Plc has traded 128.1 million units worth N90.2 million.
