Afriland Pins NASD OTC Exchange to Negative Zone

Afriland Properties

By Adedapo Adesanya

Afriland Properties Plc was the sole price loser on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Monday, October 19, 2020, making the market to open trading for the week on a wrong note.

The unlisted securities market recorded a marginal 0.02 per cent loss yesterday to extend the bearish movement to the third consecutive session.

During the trading day, the market capitalisation of the exchange decreased by N110 million to close at N526.52 billion compared with N526.63 billion it quoted last Friday.

Likewise, the NASD Unlisted Security Index (NSI) went down by 0.15 points during the session to settle at 716.77 points as against 716.92 points recorded at the previous session.

Business Post reports that the share price of Afriland Properties, a development and investment company, went down by 8 kobo or 5.3 per cent on Monday to settle at N1.42 per share in contrast to N1.5 per share of the previous trading day.

On the activity chart, the total number of shares transacted by investors fell by 95 per cent to 10,943 units from 219,000 units of shares exchanged previously.

In the same vein, the total value of shares transacted by traders dropped by 99.3 per cent to N185,672.4 from N27.5 million recorded at the last session.

However, the number of deals executed yesterday increased by 66.67 per cent  or two deals as a total of five deals occurred in the session compared with the three deals of the previous session.

A breakdown showed that both Afriland Plc and FrieslandCampina WAMCO Nigeria Plc recorded two deals each, while Central Securities Clearing Systems (CSCS) Plc carried out a single deal.

At the close of transactions, ARM Life Plc remained as the most traded stock by value (year-to-date) for trading 7.4 billion units of its securities for N4.6 billion. It was trailed by the Niger Delta Exploration and Production (NDEP) Plc which traded 10.4 million units valued at N3.2 billion, while CSCS Plc has traded 203.1 million units valued at N2.7 billion.

In terms of the most active stock by volume (year-to-date), ARM Life Plc maintained the top spot for trading 7.4 billion units worth N4.6 billion, while CSCS Plc has transacted 203.1 million units worth N2.7 billion, with Food Concepts Plc exchanging 128.1 million units of its shares worth N90.2 million.

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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