Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange opened the new week bullish as it rose by 2.6 per cent on Monday, February 5, spurred by the continued rise in the stock price of Aradel Holdings Plc.
The company appreciated during the trading day by N200 to sell at N2,207.00 per unit compared with last Friday’s closing price of N2007.00 per unit. The energy firm has posted a year-to-date return of 102.7 per cent.
Its positive performance yesterday increased the market capitalisation of the bourse by N38.45 billion to N1.514 trillion from N1.475 trillion, as the NASD Unlisted Security Index (NSI) rose by 28.37 points to end the day at 1,117.11 points as against 1,088.74 points it recorded at the previous session.
Business Post reports that the alternative equity market recorded a price loser on Monday, and this was the Central Securities Clearing System (CSCS) Plc, which shed N1.00 to settle at N19.00 per unit, in contrast to last Friday’s price of N20.00 per unit.
On the activity chart, the volume of securities traded leapt by 314.8 per cent to 1.3 million units from 307,965 units, the number of deals also grew by 171.4 per cent to 19 deals from seven deals, while the value of shares went down by 47.3 per cent to N21.9 million from N41.6 million.
The most traded stock by volume on a year-to-date basis was IPWA Plc with 48.9 million units valued at N24.4 million, followed by UBN Property Plc with 36.2 million units worth N63.2 million, and Geo-Fluids with the sale of 30.1 million units for N73.6 million.
Aradel Plc closed the trading session as the most traded stock by value on a year-to-date basis with 509,167 units worth N770.9 million, trailed by FrieslandCampina Wamco Nigeria Plc with 2.4 million units valued at N184.9 million, and Geo-Fluids Plc was in third place with a turnover of 30.1 million units valued at N73.6 million.
