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Friesland Lifts NASD OTC Exchange by 0.3%



By Adedapo Adesanya

Transactions at the NASD Over-the-Counter (OTC) Securities Exchange closed in the bullish zone on Thursday, November 18 with a 0.3 per cent growth driven by the positive price movement in the shares of FrieslandCampina WAMCO Nigeria Plc.

The milk producer appreciated by N1.90 or 1.6 per cent during the trading session to settle at N121 per unit compared with N119.10 per unit it closed on Wednesday.

This lifted the NASD Unlisted Security Index (NSI) by 2.25 points to wrap the session at 746.83 points in contrast to 743.58 points of the previous session.

In the same vein, the positive performance of the stock lifted the market capitalisation of the NASD OTC exchange higher by N1.85 billion to N617.01 billion from N615.16 billion it ended at the preceding day.

At the trading session, the volume of securities traded by investors exchanged skyrocketed by 666.6 per cent to 23,442 units from the preceding day’s 3,058 units, while the value of shares traded at the session increased by 3,181.2 per cent to N2.8 million from the N85,245.60 posted on Wednesday, with the number of deals slightly rising by 25.0 per cent to five deals from the four deals carried out a day earlier.

When the trading session was brought to an end, Food Concepts Plc remained as the most active stock by volume (year-to-date) as it has traded 11.4 billion units of its shares for N14.4 billion. Lighthouse Financial Services Plc maintained its second position for trading 1.1 billion units of its securities valued at N546.2 million, while Geo Fluids Plc was in third place with 1.0 billion units worth N700.1 million.

Also, Food Concepts Plc maintained its spot as the most traded stock by value (year-to-date) for selling 11.4 billion units of its securities for N14.4 billion, followed by Nigerian Exchange (NGX) Group Plc with a turnover of 456.5 million units of its securities valued at N9.2 billion, and VFD Group Plc with a turnover of 10.4 million units valued at N3.5 billion.

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