Aradel, Friesland Shrink NASD Exchange by 5.5%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 5.5 per cent depreciation on Monday, September 9 as Aradel Holdings Plc and FrieslandCampina Wamco Nigeria Plc led the market to the red territory.

Aradel Holdings Plc fell by N780 during the trading session to end at N8,220.00 per unit compared with last Friday’s N9,000.00 per unit, and FrieslandCampina Wamco Nigeria Plc decreased by N2.00 to trade at N46.00 per share compared with the preceding session’s N48.00 per share.

Business Post reports that there were two price gainers on the first trading day of the week, with Central Securities Clearing System (CSCS) Plc chalking up N2.00 to close at N23.00 per unit versus the former value of N21.00 per unit, and Nipco Plc expanded by N5.80 to settle at N85.00 per share, in contrast to the previous day’s N79.20 per share.

At the close of transactions, the market capitalisation of the NASD Exchange lost N162.27 billion to finish at N2.805 trillion versus the preceding session’s N2.967 trillion and the NASD Unlisted Security Index (NSI) dropped 118.41 points to settle at 2,047.18 points compared with the 2,165.59 points recorded in the previous session.

A total of 60 deals were executed by the market participants at the session, 20 per cent higher than the 50 deals carried out last Friday, according to data from the alternative bourse.

However, the volume of transactions recorded yesterday went down by 31.5 per cent to 327,796 units from the 478,832 units achieved in the previous trading day.

But the value of securities traded during the session increased by 44.3 per cent to N359.4 million from N249.1 million.

Afriland Properties Plc ended the day as the most active stock by volume (year-to-date) after selling 293.0 million securities for N5.2 billion, followed by Capital Hotels Plc with 259.6 million valued at N1.3 billion, and Industrial and General Insurance (IGI) Plc with 218.9 million units worth N46.1 million.

Aradel Holdings Plc finished as the most traded stock by value (year-to-date) with 10.9 million units worth N40.8 billion, trailed by Afriland Properties Plc with 293.1 million units sold for N5.2 billion, and CSCS Plc with 106.7 million units valued at N2.6 billion.