NASD OTC Market Capitalisation Hits N3trn Threshold Again

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to the N3 trillion mark on Wednesday, September 11 some days after it fell from the threshold.

The unlisted stock exchange recorded an appreciation of 6.3 per cent during the trading session after three securities closed higher.

The market capitalisation of the alternative bourse increased yesterday by N179.82 billion to settle at N3.045 trillion compared with the previous day’s N2.865 trillion and the NASD Unlisted Security Index (NSI) gained 131.22 points to wrap the session at 2,222.37 points compared with 2,091.15 points recorded in the previous session.

Investors exchanged 700,600 stocks at midweek, 77.3 per cent lower than the 3.1 million stocks recorded a day earlier.

Equally, the value of securities bought and sold by the market participants went down by 6.6 per cent to N289.8 million from the N310.2 million reported on Tuesday.

Similarly, the number of deals carried out by traders yesterday depreciated by 11.5 per cent to 46 deals from the 52 deals executed in the previous session.

Aradel Holdings Plc gained N850 at midweek to end at N9,350.00 per unit versus Tuesdaya’s closing price of N8,500.00 per unit, Acorn Petroleum Plc improved its value by 9 Kobo to quote at 99 Kobo per share compared with the previous day’s 90 Kobo per share, and FrieslandCampina Wamco Nigeria Plc jumped by 5 Kobo to settle at N46.50 per unit, in contrast to Tuesday’s closing price of N46.45 per unit.

Conversely, Central Securities Clearing System (CSCS) lost N1.00 during the trading day to close at N22.00 per share versus N23.00 and UBN Property Plc recorded a 2 Kobo loss to sell for N1.65 per unit compared to N1.67 per unit.

The most traded equity by value (year-to-date) remained Aradel Holdings Plc with 10.9 million units valued at N41.5 billion, trailed by Afriland Properties Plc with 293.0 million units worth N5.2 billion, and CSCS Plc with 106.3 million units sold for N2.5 billion.

Also, Afriland Properties Plc maintained its position as the most active stock by volume (year-to-date) with 293.0 million units worth N5.2 billion, followed by Capital Hotels Plc with 259.6 million units sold for N1.3 billion, and Industrial and General Insurance (IGI) Plc with 218.9 million units valued at N46.1 million.