VFD Group, Friesland Lift NASD OTC Exchange by 0.48%

April 7, 2021
NASD OTC Exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned from the Easter holiday break on Tuesday, April 6 with a 0.48 per cent gain on the back of positive price movements from VFD Group Plc and FrieslandCampina WAMCO Nigeria Plc.

VFD Group Plc continued its impressive bullish run at the bourse as it further gained N22.46 or 10 per cent to close the session at N247.12 per share in contrast to N224.66 per share the company’s stocks traded at the previous session.

FrieslandCampina WAMCO Nigeria Plc on its part recorded a marginal 63 kobo or 0.48 per cent gain to close at N130.90 per unit as against N130.27 per unit of the earlier trading day.

The appreciation in both stocks expanded the market capitalisation of the bourse by N2.52 billion to close the day at N532.13 billion in contrast to the previous N529.61 billion.

Following the same trend, the session ended with the NASD Unlisted Security Index (NSI) growing by 3.55 points to wrap the session at 748.63 points compared with 745.08 points recorded at the previous session.

Business Post gathered that a total of 85,000 units of shares were transacted at the NASD OTC market on Tuesday, 33.3 per cent higher than the 63,755units recorded at the previous session.

However, the value of the securities traded by investors reduced by 3.9 per cent to N14.1 million from N14.6 million, while the number of deals decreased by 40 per cent to three deals from five deals of the earlier session.

These deals were carried out in three companies; Friesland, VFD Group and Central Securities Clearing Systems (CSC).

UBN Property Plc remained as the most active stock by volume (year-to-date) for trading 21.9 million units of its shares for N24.6 million. CSCS Plc was in second place with 8.2 million units worth N126.7 million, while Friesland held the third position with 3.5 million units of its shares worth N433.7 million.

In terms of value, NDEP Plc was the most active on a year-to-date basis with the sale of 2.2 million units of its stocks worth N674.8 million. Friesland trailed with the sale of 3.5 million units of its securities for N362.3 million, while the third spot was taken by VFD Group Plc with the sale of 1.1 million units valued at N167.4 million.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Leave a Reply

strong dollar demand Naira
Previous Story

Naira Drops N1.20 to Trade N410.50/$1 at I&E

Cholera Outbreak
Next Story

NCDC Raises Alarm over Rising Cases of Cholera in Nigeria

Latest from Economy

Don't Miss