NASD OTC Bourse Extends Stay in Danger Zone by 5.3%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, October 9 extended its fall by 5.3 per cent as negative sentiment persists.

The market capitalisation at midweek went down by N213.10 billion to close at N3.823 trillion compared with the N4.036 trillion it finished on Tuesday.

Similarly, the NASD Unlisted Security Index (NSI) recorded a deduction of 155.32 points to end the day at 2,787.17 points as against the 2,942.49 points it recorded in the previous session.

In terms of the volume of securities traded at the bourse, there was a marginal rise as investors exchanged 75.1 million units, which is 0.12 per cent higher than the 75.0 million units transacted by market participants at the last session.

In a different outcome, the midweek value of trades dropped by 94.4 per cent to N1.2 billion from the N21.7 billion achieved a day earlier, and the number of deals decreased by 64.1 per cent to 202 deals from the preceding session’s 563 deals.

Central Securities Clearing System (CSCS) Plc fell by N2.00 yesterday to end at N21.00 per unit compared with Tuesday’s N23.00 per unit, Aradel Holdings Plc depleted by N49.20 to N641.06 per share from N690.26 per share and Geo-Fluids Plc declined by 9 Kobo to sell at N3.56 per unit versus N3.65 per unit.

On the flip side, Okitipupa Plc made a 66 Kobo rise to end at N18.24 per share compared to the previous session’s N16.58 per share, 11 Plc rose by N18.31 to N201.41 per unit from N183.10 per unit, NASD Plc appreciated by N1.41 to N15.51 per share from N14.10 per share, Acorn Petroleum increased by 6 Kobo to N1.66 per unit from N1.60 per unit, FrieslandCampina Wamco Nigeria Plc advanced by N2.90 to N47.00 per share from N45.63 per share, and Afriland Properties Plc gained 10 Kobo to settle at N18.40 per unit versus N18.30 per unit.

Geo-Fluids Plc remained as the most active stock by volume (year-to-date) with 1.4 billion units worth N3.0 billion, Okitipupa Plc came next with 751.2 million units sold for N7.7 billion, and Afriland Properties Plc occupied the third spot with 296.4 million units valued at N5.3 million.

Aradel Holdings Plc was the most active stock by value (year-to-date) with 85.1 million units valued at N72.2 billion, Okitipupa Plc followed with 751.2 million units worth N7.7 billion, and Afriland Properties Plc was in third with 296.4 million units sold for N5.3 billion.