Acorn, CSCS Sink NASD OTC Stock Exchange by 1.08%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange fell by 1.08 per cent, with the Unlisted Security Index (USI) going down by 32.57 points to wrap the session at 2,989.42 points compared with 3,021.99 points recorded in the previous session.

In the same vein, the market capitalisation of the alternative bourse depreciated during the session by N11.41 billion to settle at N1.047 trillion, in contrast to last Friday’s value of N1.059 trillion.

Yesterday, Acorn Petroleum suffered a loss of 19 Kobo to sell at N1.70 per share versus the N1.89 per share it was traded in the preceding trading day, and Central Securities Clearing System (CSCS) Plc weakened by N2.25 to end the session at N20.25 per unit versus the preceding closing rate of N22.50 per unit.

Business Post reports that the market recorded a single price gainer and it was Geo-Fluids Plc, which added 5 Kobo to sell at N3.94 per share compared with the previous trading day’s N3.89 per share.

During the trading session, the volume of securities traded soared by 320 per cent to 1.47 million units from the 350,850 units recorded a day earlier.

However, the value of shares traded on the first trading session of the week went down by 51.1 per cent to N4.6 million from the N9.5 million quoted last Friday.

These transactions were carried out in 17 deals compared with the 20 deals executed in the preceding trading day, indicating a decline of 15 per cent.

At the close of business, Geo-Fluids Plc was the most active stock by volume (year-to-date) with 1.6 billion units sold for N3.9 billion, Okitipupa Plc came next with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc traded 296.7 million units worth N5.3 million.

Aradel Holdings Plc, which has left the NASD OTC platform, remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 296.7 million units sold for N5.3 billion.