Aradel, IGI Lift NASD OTC Exchange By 0.59%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange jumped by 0.59 per cent in the first session of the week, triggered by positive price movements from Aradel Holdings Plc and Industrial and General Insurance (IGI) Plc.

At the bourse on Monday, September 11, Aradel gained N29.17 to close at N536.18 per share compared with the preceding day’s value of N507.01 per share, and IGI Plc chalked up 2 Kobo to quote at 23 Kobo per unit versus last Friday’s closing price of 21 Kobo per unit.

The upward movement in the share prices of these companies lifted the market capitalisation of the NASD OTC exchange by N6.66 billion to N1.122 trillion from N1.115 trillion, and the NASD Unlisted Securities Index (NSI) increased by 4.73 points to wrap the session at 800.77 points compared with the 796.04 points recorded at the previous session.

As for the activity chart, the volume of securities traded during the session went down by 80.6 per cent to 144,000 units from 743,688 units, the value of transactions fell by 53.8 per cent to N23.6 million from the 51.1 million recorded in the preceding trading day and the number of deals depreciated by 21.4 per cent to 11 deals from the 14 deals posted last Friday.

At the close of business, Central Securities Clearing System (CSCS) Plc was the most traded stock by volume on a year-to-date basis with the sale of 1.1 billion units for N22.1 billion, UBN Property Plc was in second place with 924.2 million units valued at N917.5 million, and IGI Plc stood in third place with 647.0 units worth N52.5 million.

Also, CSCS Plc ended the trading session as the most traded stock by value on a year-to-date basis with a turnover of 1.1 billion units worth N22.1 billion, VFD Group was in second position with 26.5 million units valued at N5.9 billion, and Aradel Holdings Plc was in third place with 5.9 million units worth N2.0 billion.