NASD Index Drops 0.16% Despite Gains by Newrest ASL, Aradel Holdings

May 17, 2024
NASD securities exchange

By Adedapo Adesanya

There was a 0.16 per cent loss at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, May 16 despite gains recorded by the duo of Newrest Asl Plc and Aradel Holdings Plc.

Newrest ASL appreciated by N2.14 during the session to close at N23.57 per share compared with the preceding day’s N21.43 per share, and Aradel Holdings Plc improved by N16.09 to end at N3,176.04 per unit, in contrast to Wednesday’s closing price of N3,159.95 per unit.

Despite not having a price decliner, the NASD Unlisted Security Index (NSI) recorded a slide of 1.94 points to end the day at 1,241.53 points as against 1,243.47 points it recorded at the previous session.

In the same vein, the market capitalisation of the alternative stock exchange declined by N2.65 billion to close at N1.7 trillion compared with midweek’s N1.703 trillion.

During the session, the the volume of securities traded by investors closed lower by 31.9 per cent to 261,345 units from the 384,105 units transacted a day earlier.

However, the value of transactions jumped by 52.1 per cent to N564.2 million from N370.8 million, while the number of deals depreciated by 81.8 per cent to 45 deals from 50 deals.

Aradel Holdings Plc, with a turnover of 5.0 million units valued at N10.7 billion, remained the most active equity by value on a year-to-date basis. This was followed by Central Securities Clearing Systems (CSCS) Plc with 99.0 million units sold for N2.4 billion, and Capital Hotels Plc with the sale of 228.6 million worth N1.1 billion.

The most active equity by volume on a year-to-date basis was Capital Hotels Plc with the sale of 228.6 million valued at N1.1 billion, followed by CSCS Plc with the sale of 99.0 million units for N2.4 billion, and IPWA Plc with a turnover of 79.9 million units worth N40.0 million.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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