Aradel Stocks Sink NASD OTC Exchange by 1.48%

By Adedapo Adesanya

There was a 1.48 per cent loss at the NASD Over-the-Counter (OTC) Securities Exchange on Monday, August 26 due to profit-taking in Aradel Holdings Plc.

The energy stock decreased by N150.57 during the trading session to settle at N5,286.93 per share, in contrast to the preceding day’s N5,347.50 per share, rubbishing the growth posted by its counterpart, 11 Plc, at the close of business.

Business Post reports that 11 Plc appreciated yesterday by 40 Kobo to end the day at N183.10 per unit versus last Friday’s closing price of N182.70 per unit.

When trading activities finished for the session, the NASD Unlisted Security Index (NSI) went down by 23.76 points to 1,576.40 points from the 1,600.16 points recorded in the previous trading session.

In the same vein, the market capitalisation of the bourse lost N32.56 billion in value to close at N2.160 trillion compared with the previous closing value of N2.192 trillion.

Analysis of the trading data showed that the volume of securities traded on Monday marginally increased by 2.4 per cent to 101,456 units from the 99,091 units posted on the previous trading day.

Also, the value of shares bought and sold by the market participants surged by 61.7 per cent to N460.5 million from N284.8 million.

Similarly, the number of deals executed during the first trading session of the week increased by 34.2 per cent to 55 deals, compared to the 41 deals carried out last Friday.

Aradel Holdings Plc ended the session as the most active stock by value on a year-to-date basis with 10.0 million units valued at N33.6 billion, followed by Afriland Properties Plc with 292.9 million units sold for N5.2 billion, and Central Securities Clearing System (CSCS) Plc with 105.8 million units worth N2.5 billion.

Afriland Properties Plc closed the trading day as the most active stock by volume on a year-to-date basis with 292.9 million units sold for N5.2 billion, trailed by Capital Hotels Plc with 259.6 million units worth N1.3 billion, and Industrial and General Insurance (IGI) Plc with 218.8 million units valued at N46.1 million.