IGI, CSCS Lift OTC Exchange by 0.15%

By Adedapo Adesanya

There was a 0.15 per cent appreciation at the NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 23.

The duo of Industrial and General Insurance (IGI) Plc and Central Securities Clearing System (CSCS) contributed to the growth reported by the OTC exchange on the first trading session of the week.

IGI Plc gained 1 Kobo during the trading day to sell for 21 Kobo per unit compared to the previous session’s 20 Kobo per share and CSCS Plc jumped by 95 Kobo to settle at N20.80 per share versus last Friday’s closing price of N19.85 per share.

However, the share price of Afriland Properties Plc went down yesterday by 20 Kobo to end at N17.30 per unit, in contrast to the preceding session’s N17.50 per unit.

At the close of business, the market capitalisation of the alternative bourse increased by N4.61 billion to N3,057 trillion from the N3.052 trillion recorded in the previous trading day, and the NASD Unlisted Security Index (NSI) appreciated by 3.37 points to end the day at 2,231.10 points as against 2,227.73 points it recorded at the previous session.

In terms of the volume of securities traded at the bourse, there was a 264.4 per cent rise after investors exchanged 1.9 million units, in contrast to the 541,461 units transacted at the last session.

But the value of securities recorded at the trading day went down by 36.7 per cent to N6.1 million from the N9.7 million achieved last Friday, and the number of deals executed by the market participants went up by 36.7 per cent to 16 deals from the 10 deals carried out in the preceding trading day.

Aradel Holdings Plc finished the session as the most active stock by value (year-to-date) with 11.2 million units valued at N43.5 billion, followed by Afriland Properties Plc with 293.3 million units sold for N5.2 billion, and CSCS Plc with 107.3 million units worth N2.6 billion.

Afriland Properties Plc closed the day as the most active stock by volume (year-to-date) with 293.3 million units worth N5.2 billion, trailed by Capital Hotels Plc with 259.6 million units valued at N1.3 billion, and IGI Plc with 221.9 million units sold for N46.7 million.