Aradel Holdings Pulls Down NASD OTC Exchange by 0.21%

By Adedapo Adesanya

Aradel Holdings Plc dragged the NASD Over-the-Counter (OTC) Securities Exchange southwards by 0.21 per cent on Tuesday, July 23.

This depleted the market capitalisation of the alternative stock exchange at the close of business by N4.26 billion to N2.044 trillion from the N2.048 trillion recorded in the preceding session.,

It the same vein, the NASD Unlisted Security Index (NSI) went down by 3.11 points to wrap the session at 1,487.64 points compared with 1,486.12 points recorded in the previous session.

Aradel Holdings Plc, an indigenous energy firm, declined by N31.13 during the trading day to sell for N4,768.87 per share, in contrast to Monday’s closing price of N4,800.00 per share.

However, Central Securities Clearing System (CSCS) Plc improved its value by 50 Kobo yesterday to settle at N20.50 per unit compared with the preceding trading day’s N20.00 per unit.

Investors exchanged 127,098 units of securities on Tuesday compared with the 1.3 million units of securities traded a day earlier, representing a 90.1 per cent rise.

Also, the total value of shares bought and sold by the market participants went down to N164.9 million from the N276.7 million recorded in the preceding trading session, implying a decline of 40.4 per cent.

However, the number of deals carried out yesterday remained unchanged at 18 deals.

At the close of business, Capital Hotels Plc remained the most active stock by volume on a year-to-date basis with a turnover of 259.6 million units valued at N1.3 billion, Afriland Properties Plc occupied the second spot with 230.4 million units sold for N4.1 billion, and Industrial and General Insurance (IGI) Plc claimed the third position with 218.8 million units worth N46.1 million.

Also, Aradel Holdings Plc ended the trading session as the most traded stock by value on a year-to-date basis with 7.5 million units worth N22.4 billion, followed by Afriland Properties Plc with 230.4 million units valued at N4.1 billion, and CSCS Plc with 102.1 million units sold for N2.5 billion.