Adedapo Adesanya
By Adedapo Adesanya
The 11th trading week of 2024 at the NASD Over-the-Counter (OTC) Securities Exchange ended on a bad note after a week-on-week loss of 4.4 per cent, the third consecutive week.
Recall that the first eight trading weeks of the year were bullish at the alternative stock market, but things turned the other direction from Week 9 and have remained so, reducing the market capitalisation of the bourse by N65 billion to N1.404 trillion from the N1.469 trillion it closed in Week 10.
In the same vein, the NASD Unlisted Security Index (NSI) went down by 105.96 points on a week-on-week basis to 1,035.65 points from the 1,141.61 points it closed a week earlier.
Business Post reports that four shares ended on the losers’ chart, while three securities closed on the gainers’ table.
Aradel Holdings Plc continued its losing streak after it fell by 19 per cent to N1,620.00 per unit from N2,000.00 per share, FrieslandCampina Wamco Nigeria Plc depreciated by 2.6 per cent to N72.00 per unit from N73.95 per unit, Food Concepts Plc dipped by 0.9 per cent to end at N2.22 per share versus N2.24 per share, and Mixta Real Estate lost 0.6 per cent to settle at N1.63 per unit versus the preceding week’s N1.64 per unit.
On the flip side, Afriland Properties Plc gained 26.6 per cent to quote at N5.72 per share compared with the previous week’s N4.52 per share, Central Securities Clearing System (CSCS) Plc appreciated by 19.5 per cent to N23.91 per unit from N20.01 per unit, and UBN Property Plc rose by 55.2 per cent to N1.83 per share from the previous closing price of N1.74 per share.
The total volume of trades during the week rose by 523.6 per cent to 39.9 million units from 6.4 million units, the value increased by 18 per cent to N369.4 million from N313.1 million, and the number of deals grew by 16.3 per cent to 93 deals from 80 deals in the previous week.
IPWA Plc was the most traded stock by volume with 30.8 million units, followed by Geo-Fluids Plc with 4.2 million units, CSCS Plc with 3.2 million units, UBN Property Plc with 1.0 million units, and Capital Bancorp Plc with 0.24 million units.
By value, Aradel Holdings Plc topped with N259.8 million, CSCS Plc traded N73.4 million, IPWA Plc posted N15.4 million, Geo-Fluids Plc recorded N10.7 million, and FrieslandCampina Wamco Plc achieved N6.8 million.
