Aradel, Acorn Lift Alternative Equity Market by 1.57%

By Adedapo Adesanya

Aradel Holdings Plc and Acorn Petroleum Plc led the NASD Over-the-Counter (OTC) Securities Exchange to the green territory by 1.57 per cent on Wednesday, January 17.

Aradel Plc recorded a price appreciation of N123.01 to close at N1,353.11 per share compared with Tuesday’s closing price of N1,230.10 per share, and Acorn Petroleum Plc improved by 1 Kobo to settle at 66 Kobo per unit, in contrast to the preceding day’s 65 Kobo per unit.

However, the duo of FrieslandCampina Wamco Nigeria and Industrial and General Insurance (IGI) Plc depreciated during the trading session, though they could not pull down the alternative equity market at the close of transactions.

FrieslandCampina lost N3.25 to close at N75.12 per share versus the previous day’s N78.37 per share, and IGI Plc weakened by 1 Kobo to finish at 27 Kobo per unit compared with Tuesday’s price of 28 Kobo per unit.

At the close of business, the market capitalisation expanded by N20.25 billion to N1.310 trillion from N1.289 trillion and the NASD Unlisted Security Index (NSI) increased by 14.95 points to end the day at 966.53 points as against 951..58 points it recorded at the previous session.

During the session, the volume of securities traded at the bourse decreased by 3.9 per cent to 26.9 million units from 28.0 million units, the value of securities bought and sold by the market participants, however, rose by 424.4 per cent to N105.2 million from the N20.1 million achieved a day earlier, while the number of deals went up by 20 per cent to 18 deals from 15 deals.

The most active stock by volume (year-to-date) was IPWA Plc with the sale of 48.9 million units for N24.4 million, trailed by UBN Property with 28.0 million units worth N48.9 million, and Geo-Fluids Plc with 20.0 million units worth N48.0 million.

But the most active stock by value (year-to-date) was Aradel Plc with a turnover of 287,872 units worth N347.1 million, followed by FrieslandCampina Plc with 1.2 million units valued at N87.8 million, and UBN Property Plc with 28.0 million units sold for N48.9 million.