Aradel Holdings, CSCS Buoy Alternative Equity Market by 0.75%

By Adedapo Adesanya

The duo Aradel Holdings Plc and Central Securities Clearing System (CSCS) Plc inspired the NASD Over-the-Counter (OTC) Securities Exchange to its 0.75 per cent gain on Thursday, February 15.

Aradel Holdings Plc continued its bullish run during the session by further rising by N51.00 N2,451.00 per share from N2,400 per share, and CSCS Plc increased its value by 25 Kobo to 18.50 per unit from the previous session’s N18.25 per unit.

However, FrieslandCampina Wamco Nigeria suffered a decline yesterday as its share price went down by 39 Kobo to N75.00 per unit from Wednesday’s closing price of N75.39 per unit.

When trading activities closed for the day, the total of the alternative equity market jumped by N11.57 billion to N1.560 trillion from N1.549 trillion, and the NASD Unlisted Security Index (NSI) recorded an additional 8.54 points to end the day at 1,151.26 points as against the 1,142.72 points it closed in the previous session.

A total of 22,421 units of securities were transacted on Thursday compared with the 935,035 units of securities transacted by investors during the midweek session, representing a decline of 97.6 per cent.

The value of equities bought and sold at the bourse amounted to N13.4 million, which is 62.6 per cent lower than the N35.8 million recorded a day earlier.

These trades were carried out in seven deals, in contrast to the 23 deals executed in the preceding trading day, indicating a decline of 69.6 per cent.

The most traded stock by volume on a year-to-date basis was Mixta Real Estate Plc as it has transacted 69.9 million units worth N114.5 million, followed by IPWA Plc with 48.9 million units valued at N24.4 million, and Geo-Fluids Plc with 40.3 million units sold for N99.3 million.

Aradel Holdings Plc ended the session as the most traded stock by value on a year-to-date basis with 993,301 units sold for N1.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 3.1 million units valued at N238.8 million, and Mixta Real Estate Plc with 69.9 million units worth N114.5 million.