Investors of Unlisted Securities Gain N2.07bn in First Week of 2024

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange ended the first trading week of 2024 on a positive note as it appreciated by 0.16 per cent on a week-on-week basis last Friday.

The market had four trading sessions as a result of the public holiday observed last Monday for the New Year’s Day celebration, with 11 Plc rising by 9.4 per cent to N197.00 per share from the preceding week’s N180.00 per share.

Industrial and General Insurance (IGI) Plc gained 8 per cent to close at 27 Kobo per unit compared with the preceding week’s 25 Kobo per unit, and NASD Plc jumped by 4.0 per cent to N13.50 per share from N12.95 per share.

Further, FrieslandCampina Wamco Nigeria Plc increased by 2.5 per cent to trade at N82.00 per unit from N80.00 per unit, and Aradel Holdings Plc rose by 2.4 per cent to N1,115.00 per share from N1,089.00 per share.

As a result, the market capitalisation of the bourse expanded by N2.07 billion to N1.259 trillion from N1.257 trillion, and the NASD OTC Security Index improved by 1.52 points to 928.99 points from 927.47 points.

In the week, Central Securities Clearing System (CSCS) Plc lost 12.8 per cent to close at N17.31 per share from N19.84 per share, and Nipco Plc declined by 10 per cent to N72.00 per unit from the previous close of N80.00 per unit.

Last week, there was a 118.4 per cent increase in the total value of transactions to N73.7 million from N33.8 million, there was a 75.6 per cent growth in the volume of trades to 10.3 million units from 5.9 million units in Week 52 of 2023, and there was a 9.7 per cent rise in the number of deals to 34 trades from 31 transactions.

At the close of the week, Purple Real Estate Plc was the most traded security by volume with 5.5 million units, UBN Property Plc traded 3.6 million units, IGI Plc exchanged 0.71 million units, CSCS Plc transacted 0.21 million units, and Food Concepts Plc traded 0.17 million units.

Also, Purple Real Estate Plc was the most active with N28.8 million, Aradel Plc traded N27.9 million, UBN Property Plc recorded N6.3 million, CSCS Plc posted N3.8 million, and FrieslandCampina WAMCO Nigeria Plc expended N2.3 million.