NASD OTC Exchange Makes 0.63% Appreciation

By Adedapo Adesanya

There was a 0.63 per cent appreciation at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, October 24 boosted by gains made by four equities admitted on the platform.

Nipco Plc improved its value during the trading session by N9.70 to end at N106.70 per share compared with the preceding day’s N97.00 per share, and Central Securities Clearing System (CSCS) Plc gained 84 Kobo to finish at N22.99 per unit, in contrast to Wednesday’s closing price of N22.15 per unit.

In addition, Afriland Properties Plc grew by 30 Kobo to settle at N17.00 per share versus the midweek’s N16.70 per share, and Okitipupa Plc chalked up 21 Kobo to quote at N18.45 per unit compared with the previous session’s N18.24 per unit.

As a result, the market capitalisation strengthened at the close of business by N6.54 billion to N1.051 trillion compared with the preceding trading day’s N1.044 trillion, and the NASD Unlisted Security Index (NSI) recorded a gain of 18.65 points to end the day at 2,999.54 points as against 2,980.89 points recorded at the previous session.

On Thursday, the volume of securities traded at the bourse went down by 11.5 per cent to 120,859 units from the 139,579 units transacted at midweek.

Equally, the value of trades during the session declined by 47.5 per cent to N2.9 million from the N5.5 million recorded a day earlier, and the number of deals shrank by 68 per cent to eight deals from the 25 deals recorded in the preceding trading day.

Business Post reports that Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.4 billion units valued at N3.3 billion, trailed by Okitipupa Plc with 751.3 million units worth N7.7 billion, and Afriland Properties Plc with 296.4 million units sold for N5.3 million.

Similarly, Aradel Holdings Plc remained the most traded stock by value (year-to-date) with the sale of 108.7 million units for N89.2 billion, followed by Okitipupa Plc with 751.3 million units worth N7.7 billion, and Afriland Properties Plc with 296.4 million units valued at N5.3 billion.