Aradel Extends NASD OTC Bourse Gain by 4.74% at Midweek

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 4.74 per cent appreciation on Wednesday, August 28, firmed by Aradel Holdings Plc.

The market capitalisation increased at midweek by N106.69 billion to close at N2.355 trillion compared with the preceding day’s N2.249 trillion and the NASD Unlisted Security Index (NSI) appreciated by 77.86 points to wrap the closing session at 1,719.27 points compared with 1,641.41 points recorded in the previous session.

Aradel Holdings was the sole gainer as it added N502.45 to its value to end the session at N6,200.00 per unit compared with the preceding day’s N5,697.55 per unit.

On the flip side, Afriland Properties Plc went down by N1.79 during the trading day to settle at N20.48 per share, in contrast to Tuesday’s closing price of N20.00 per share.

Yesterday, the number of deals carried out by investors increased by 8.9 per cent to 85 deals from the 78 deals executed a day earlier.

However, the volume of shares traded went down by 37.3 per cent to 165,887 units from the 266,118 units recorded in the previous trading day, and the value of transactions declined by 66.9 per cent to N322.6 million from the N976.2 million achieved in the preceding trading session.

At the close of business, Aradel Holdings Plc maintained its position as the most traded stock by value on a year-to-date basis with a turnover of 10.2 million units valued at N34.9 billion, Afriland Properties Plc occupied the second spot with the sale of 292.9 million units for N5.2 billion, and Central Securities Clearing System (CSCS) Plc was in third spot with 105.9 million units worth N2.5 billion.

Afriland Properties Plc retained its spot as the most active stock by volume on a year-to-date basis with the sale of 292.9 million units sold for N5.2 billion, followed by Capital Hotels Plc with a turnover of 259.6 million units worth N1.3 billion, and Industrial and General Insurance (IGI) Plc with the sale of 218.8 million units valued at N46.1 million.