Aradel, CSCS Sink NASD OTC Exchange by 6.2%

By Adedapo Adesanya 

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 6.2 per cent depreciation on Tuesday, October 8, triggered by losses in the shares of Aradel Holdings Plc and Central Securities Clearing System (CSCS) Plc.

The duo overpowered the gains posted by the trio of Okitipupa Plc, Geo-Fluids Plc, and Acorn Petroleum Plc during the trading session.

Aradel Holdings Plc lost N61.37 to end at N690.29 per unit compared with the previous day’s N751.63 per unit, and CSCS Plc weakened by 3 Kobo to sell for N23.00 per share versus Monday’s price of N23.03 per share. 

However, Okitipupa Plc appreciated by N1.51 to close at N16.58 per unit compared with the preceding day’s N15.07 per unit, Geo-Fluids Plc gained 32 Kobo to trade at N3.65 per share versus the preceding session’s N3.33 per share, and Acorn Petroleum rose by 9 Kobo to N1.60 per unit from N1.51 per unit. 

But at the close of business, the market capitalisation went down by N264.50 billion to N4.036 trillion from the N4.301 trillion it finished a day earlier, and the NASD Unlisted Security Index (NSI) sank by 192.79 points to wrap the session at 2,942.49 points, in contrast to Monday’s 3,135.28 points.

The volume of securities traded in the session moderated by 81.4 per cent to 75.0 million units from 403.5 million units, but the value of securities increased by 897.7 per cent to N21.7 billion from N2.2 billion, and the number of deals grew by 421.3 per cent to 563 deals from 108 deals.

At the close of trading activities, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.4 billion units sold for N3.0 billion, trailed by Okitipupa Plc with 751.2 million units valued at N7.7 billion, and Afriland Properties Plc with 296.4 million units worth N5.3 million.

Also, Aradel Holdings Plc retained its spot as the most traded stock by value (year-to-date) with 19.3 million units worth N49.6 billion, followed by Okitipupa Plc with 751.2 million units sold for N7.7 billion, and Afriland Properties Plc with 296.4 million units valued at N5.3 billion.