NASD Index Gains 7.40% to Cross 3,000 Points

By Adedapo Adesanya

There was a 7.40 per cent rise at the NASD Over-the-Counter (OTC) Securities Exchange on Monday, October 7 as investors sustained strong demand for unlisted stocks.

This renewed hunger for securities on the alternative bourse drove the value of the platform higher by N296.2 billion at the close of business to N4.301 trillion from the N4.005 trillion recorded in the previous session, which was last Friday.

It was a milestone for the NASD Unlisted Security Index (USI) as it crossed the 3,000 points mark after recording a rise of 215.92 points to end the day at 3,135.28 points as against 2,919.36 points it recorded at the previous session.

Yesterday, the volume of securities traded by investors increased by 11,024.9 per cent to 403.5 million units from the 3.6 million units reported in the preceding trading session.

Also, the value of transactions during the trading day went up by 92.4 per cent to N2.2 billion from N1.13 billion, and the number of deals went down by 9.2 per cent to 108 deals from 119 deals.

Aradel Holdings Plc established its dominance after it further improved its price by N68.33 to end at N751.63 per unit versus last Friday’s closing price of N683.50 per unit, and Okitipupa Plc grew by N1.37 to sell at N15.07 per share versus N13.70 per share.

In addition, Acorn Petroleum Plc increased by 7 Kobo to N1.51 per unit from N1.44 per unit, Afriland Properties Plc rose by 30 Kobo to N18.30 per share from N18.00 per share, and Geo-Fluids Plc marginal gained 1 Kobo to quote at N3.33 per unit, in contrast to the previous trading day’s N3.32 per unit.

On the flip side, Central Securities Clearing System (CSCS) Plc fell by 24 Kobo to settle at N23.03 per share compared with the preceding session’s N23.27 per share, and FrieslandCampina Wamco Nigeria Plc slid by 37 Kobo to close at N45.63 per unit versus N46.00 per unit.

Geo-Fluids Plc remained as the most active stock by volume (year-to-date) with 1.4 billion units sold for N3.0 billion, Okitipupa Plc came next with 751.2 million units valued at N7.7 billion, and Afriland Properties Plc traded 296.4 million units worth N5.3 million.

Also, Aradel Holdings Plc remained as the most active stock by value (year-to-date) with 19.3 million units worth N49.6 billion, followed by Okitipupa Plc 751.2 million units valued at N7.7 billion, and Afriland Properties Plc with 296.4 million units sold for N5.3 billion.