Aradel Holdings Lifts OTC Exchange by 3.06%

May 25, 2024
NASD OTC exchange

By Adedapo Adesanya

Aradel Holdings Plc lifted the NASD Over-the-Counter (OTC) Securities Exchange by 3.06 per cent on Friday, May 24, with the energy stock rising by N257.90 to end the session at N3,680.90 per share versus the previous session’s N3,423.00 per share.

The company watered the impact of the losses recorded by the duo of Afriland Properties Plc and FrieslandCampina Wamco Nigeria Plc at the last day of the trading week.

Afriland Properties Plc depreciated by N1.64 to sell at N14.98 per unit compared to Thursday’s closing price of N16.62 per unit, and FrieslandCampina Wamco Nigeria Plc lost 2 Kobo to end at N50.00 per share, in contrast to the preceding day’s value of N49.98 per share.

At the close of business, the market capitalisation of the OTC exchange increased by N53.97 billion to N1.810 trillion from N1.756 trillion and the NASD Unlisted Security Index (NSI) recorded a rise of 39.23 points to settle at 1,321.95 points as against 1,282.72 points it recorded at the previous session.

In terms of volume of securities traded at the bourse, there was a 3,245.6 per cent surge to 1.4 million units from 41,872 units.

The value of stocks bought and sold also increased significantly by 1,020.4 per cent to N171.7 million from N15.3 million, and the number of deals went up by 18.5 per cent to 32 deals from the 27 deals carried out a day earlier.

When trading activities finished for the day, Aradel Holdings Plc remained the most active stock by value on a year-to-date basis with a turnover of 5.3 million units valued at N11.7 billion, followed by Central Securities Clearing System (CSCS) Plc with 100.6 million units worth N2.4 billion, and Capital Hotels Plc with 228.6 million units sold for N1.1 billion.

Capital Hotels Plc also closed the trading session as the most active stock by volume on a year-to-date basis with 228.6 million units sold for N1.1 billion, followed by Mixta Real Estate Plc with the sale of 139.8 million units for N240.1 million, and CSCS Plc with 100.6 million units valued at N2.4 billion

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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