By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.14 per cent depreciation on Wednesday, March 6 in a massive dump of stocks of Aradel Holdings Plc by investors.
This resulted in a N16.85 billion decline in the value of the trading platform, as the market capitalisation ended the session at N1.467 trillion compared with the N1.484 trillion it closed in the preceding session.
Following the same trend was the NASD Unlisted Security Index (NSI), which fell by 12.43 points to wrap the session at 1,082.44 points compared with the 1,094.87 points recorded in the previous trading session.
Business Post reports that Aradel Holdings Plc, which was the sole price loser, lost N78.93 at the midweek session to settle at N2,046.38 per share, in contrast to the preceding day’s price of N2,125.31 per share.
However, the share price of Geo Fluids Plc improved yesterday by 7 Kobo to close at N2.57 per unit versus Tuesday’s closing price of N2.50 per cent, though it could not prevent the bears from taking over the market due to the loss posted by Aradel Holdings.
During the session, the volume of securities traded by investors increased by 221.5 per cent to 2.1 million units from 644,240 units, while the value of shares traded by the market participants depreciated by 55.8 per cent to N43.9 million from N99.4 million, with the number of deals declining by 55.6 per cent to eight deals from 15 deals.
The most traded stock by volume (year-to-date) was Mixta Real Estate Plc with 69.9 million units sold for N114.5 million, followed by IPWA Plc with 48.9 million units worth N24.4 million, and Geo-Fluids Plc with 47.9 million units valued at N118.4 million.
The most traded stock by value (year-to-date) was Aradel Holdings Plc with 1.9 million units sold for N4.3 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 4.6 million units valued at N344.6 million, and Geo-Fluids Plc with 47.9 million units worth N118.4 million.
Dipo Olowookere