NASD OTC Bourse Extends Bullish Run by 4.02%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated further on Thursday, May 30 by 4.02 per cent after crossing the N2 trillion valuation on Wednesday.

Yesterday, the market capitalisation of the NASD OTC bourse increased by N84.07 billion to wrap the session at N2.160 trillion compared with the preceding day’s value of N2.076 trillion.

Similarly, the NASD Unlisted Security Index (NSI) added 61.02 points to wrap the session at 1,577.22 points compared with the 1,516.20 points recorded in the previous session.

The positive outcome came after three equities gained weight at the close of transactions, with Geo-Fluids Plc expanding by 19 Kobo to end the session at N2.09 per unit versus Wednesday’s N1.90 per unit.

Aradel Holdings Plc gained N376.53 to close the day at N5,259.27 per share, in contrast to midweek’s value of N4,882.74 per share, and Afriland Properties Plc rose by N1.10 to sell at N17.20 per unit versus N16.10 per unit.

But UBN Property Plc recorded a decline of 7 Kobo to end at N1.65 per unit compared with the previous day’s N1.72 per unit, Central Securities Clearing System (CSCS) depreciated by 3 Kobo to settle at N19.73 per share, in contrast to the midweek’s closing price of N19.76 per share.

The value of securities traded by the market participants yesterday went up by 371.26 per cent to N899.6 million from N190.9 million, the volume of securities transacted by investors increased by 130.37 per cent to 770,598 units from the 334,505 units achieved a day earlier, and the number of deals carried out surged by 320.00 per cent to 84 deals from the 20 deals executed on Wednesday.

Capital Hotels Plc, with a turnover of 228.6 million units valued at N1.1 billion, closed the trading session as the most active stock by volume on a year-to-date basis, trailed by Mixta Real Estate Plc with the sale of 139.8 million units for N240.1 million, and CSCS Plc with 101.0 million units worth N2.5 billion.

The most active stock by value on a year-to-date basis was Aradel Holdings Plc with 5.7 million units valued at N13.5 billion, followed by CSCS Plc with 101.0 million units worth N2.5 billion, and Capital Hotels Plc with 228.6 million units sold for N1.1 billion.