Aradel Holdings Spurs NASD Index to 1.16% Growth

By Adedapo Adesanya

An increase in the stock price of Aradel Holdings Plc lifted the NASD Over-the-Counter (OTC) Securities Exchange by 1.16 per cent on Thursday despite worries over the planned nationwide protests during the trading session.

The energy firm improved its value during the session by N152.90 yesterday to sell at N4,729.37 per unit compared with the previous day’s N4,126.47 per unit.

At the close of business, the NASD Unlisted Security Index (NSI) added 23.02 points to settle at 1,410.10 points compared to the 1,387.08 points recorded in the previous session, as the market capitalisation appreciated by N31.55 billion to N1.932 trillion from N1.9 trillion.

Business Post reports that there were two price losers at the session, with Afriland Properties Plc down by N1.00 to sell at N16.00 per share versus Wednesday’s N17.00 per share, and FrieslandCampina Wamco Nigeria Plc declined by 15 Kobo to end the session at N48.00 per unit, in contrast to the preceding day’s N48.15 per unit.

The volume of securities traded during the session stood at 3.8 million units, higher than the preceding day’s 3.5 million units by 6.2 per cent.

In the same version, the value of securities traded in the preceding session went up by 83.5 per cent to N760.3 million from the N414.3 million recorded a day earlier.

In addition, the number of deals executed on Thursday increased by 47.4 per cent to 56 deals from the 38 deals carried out in the midweek session.

When the market closed for the session, Capital Hotels Plc remained the most active stock by volume (year-to-date) with 259.6 million units worth N1.3 billion, Afriland Properties Plc was in second position with 230.4 million units sold for N4.1 billion, and Industrial and General Insurance (IGI) Plc occupied the third spot with 218.8 million units valued at N46.1 million.

Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 8.3 million units worth N26.1 billion, followed by Afriland Properties Plc with 230.4 million units valued at N4.1 billion, and Central Securities Clearing System (CSCS) Plc with 102.2 million units sold for N2.5 billion.