Thu. Nov 21st, 2024

Acorn Petroleum, Geo-Fluids Gain at Unlisted Securities Exchange

Acorn Petroleum

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.01 per cent marginal rise on Wednesday, November 13.

This was after the duo of Acorn Petroleum Plc and Geo-Fluids Plc ended on the gainers’ chart at the close of transactions.

Acorn Petroleum Plc appreciated at midweek by 2 Kobo to trade at N1.90 per unit compared with the previous session’s N1.88 per unit and Geo Fluids Plc recorded a price appreciation of 1 Kobo to sell at N3.89 per share compared to the N3.88 per share it as sold in the previous session.

As a result, the value of he unlisted securities exchange increased by N880 million at the close of business to N1.049 trillion from N1.048 trillion and the NASD Unlisted Security Index (NSI) went up by 0.23 points to end the day at 2,992.85 points as against 2,992.62 points recorded at the previous session.

The volume of securities traded at the bourse witnessed a drop as investors exchanged 2.5 million units, which is 39.9 per cent lower than the 4.2 million units transacted a day earlier.

In the same vein, the value of transactions recorded by the market participants at the midweek session went down by 43.0 per cent to N10.2 million from the N17.9 million posted in the preceding trading session.

These trades were carried out in 19 deals compared with the 21 deals completed in the previous trading day, indicating a decline of 19.5 per cent.

When trading activities ended for the day, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.6 billion units worth N3.9 billion, trailed by Okitipupa Plc with 752.2 million units sold for N7.8 billion, and Afriland Properties Plc with 296.7 million units valued at N5.3 million.

Also, Aradel Holdings Plc 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.

By Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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