NASD Exchange Extends Losing Spree by 0.08%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed on Wednesday, July 31 on a negative note after it extended its loss by 0.08 per cent as the markets continued to face worries of an impending nationwide protest that has kept tensions high across the country.

The market capitalisation further lost N1.52 billion to wrap the session at N1.9 trillion from the N1.902 trillion it closed in the preceding session, and the NASD Unlisted Security Index (NSI) decreased by 1.11 points to end the session at 1,387.08 points compared with 1,388.19 points recorded in the previous session.

The sole loser at the midweek session was Aradel Holdings Plc, which went down by N7.51 to sell at N4,126.47 per share compared with the preceding session’s N4,133.98 per share.

Conversely, UBN Property Plc added 2 Kobo to its share price to finish the session at N1.65 per unit, in contrast to Tuesday’s closing price of N1.63 per unit.

There was a rise in the volume of securities traded by investors at midweek by 367.9 per cent to 3.5 million units from the 758,393 worth of securities traded in the preceding session.

In the same vein, the value of stocks transacted by investors by 51.7 per cent to N414.3 million from the N857.8 million recorded on Tuesday.

These transactions were carried out in 38 deals compared with the 61 deals executed in the preceding session, indicating a 37.7 per cent drop.

Capital Hotels Plc ended the trading session as the most active stock by volume (year-to-date) with 259.6 million units valued at N1.3 billion, followed by Afriland Properties Plc with 230.4 million units sold for N4.1 billion, and Industrial and General Insurance (IGI) Plc with 218.8 million units worth N46.1 million.

Aradel Holdings Plc finished the session as the most traded stock by value (year-to-date) with 8.2 million units worth N25.3 billion, trailed by Afriland Properties Plc with 230.4 million units valued at N4.1 billion, and Central Securities Clearing Systems (CSCS) Plc with 102.2 million units sold for N2.5 billion.