Business News

FrieslandCampina Triggers 0.54% Rise at Alternative Stock Market

By Adedapo Adesanya

A milk-producing company, FrieslandCampina Wamco Nigeria, helped the NASD Over-the-Counter (OTC) Securities Exchange return to the green territory by 0.54 per cent on Wednesday, November 29.

The firm improved its value by N3.50 in the midweek session to settle at N73.50 per share compared with the previous day’s closing price of N70.00 per share.

It suppressed the 10 Kobo decline posted by Central Securities Clearing System (CSCS) Plc, which ended lower at N17.00 per unit versus Tuesday’s value of N17.10 per unit.

Consequently, the market capitalisation of the alternative stock exchange went up by N6.28 billion to close at N1.164 trillion compared with the preceding session’s N1.158 trillion, and the NASD Unlisted Security Index (NSI) went up by 4.64 points to end the day at 859.31 points, in contrast to the previous day’s 854.67 points.

During the trading day, the volume of securities traded by investors shrank by 97.1 per cent to 68.100 units from the 2.3 million units traded a day earlier, the value of shares traded fell by 65.7 per cent to N4.1 million from Tuesday’s N12.0 million, and the number of deals decreased by 50 per cent to eight deals from the 16 deals recorded in the previous trading day.

The most traded stock by volume on a year-to-date basis was CSCS Plc with a turnover of 1.1 billion units valued at N22.4 billion, UBN Property Plc was in second place with the sale of 1.1 billion units valued at N1.1 billion, and Geo-Fluids Plc stood in third place with 704.4 million units worth N1.3 billion.

In the same vein, CSCS Plc was the most traded stock by value on a year-to-date basis with the sale of 1.1 billion units valued at N22.4 billion, VFD Group retained its second spot with the sale of 26.6 million units worth N5.9 billion, and Aradel Holdings Plc occupied third place with a turnover of 7.8 million units sold for N3.1 billion.

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