NASD Index Records 0.01% Rise

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a marginal rise of 0.01 per cent on Friday, September 21 after the bourse suspended the trading of a bellwether stock, Aradel Holdings Plc.

The market capitalisation of the trading platform went up by N180 million during the session to close at N3.052 trillion compared with the preceding day’s N3.052 trillion and the NASD Unlisted Security Index (NSI) recorded a rise of 0.13 points to end the day at 2,227.73 points as against 2,227.60 points it recorded at the previous session.

The volume of securities traded at the bourse witnessed a drop as investors exchanged 541,461 units, which is 68.8 per cent lower than the 1.7 million units transacted by market participants a day earlier.

Also, the value of securities transacted by investors yesterday closed lower by 97.7 per cent to N9.7 million from the N411.5 million reported in the previous trading session.

These transactions were executed in 10 deals compared with the 101 deals carried out in the previous trading session, indicating a decline of 90.1 per cent.

Aradel, which has been a major market mover, was suspended on Thursday ahead of its eventual exit from the NASD and listing on the Nigerian Exchange (NGX) Limited. Shareholders and investors would not be able to buy or sell the securities of the energy company until Monday, September 30, 2024, when the suspension should be lifted.

Yesterday, Geo-Fluids Plc appreciated by 16 Kobo to sell at N2.66 per unit compared to Thursday’s value of N2.50 per unit and FrieslandCampina Wamco Nigeria added 25 Kobo to settle at N48.00 per unit versus the preceding day’s N47.75 per unit.

On the flip side, NASD Plc slumped by N1.07 to quote at N15.00 per share, in contrast to the previous day’s N16.07 per share, and Afriland Properties Plc depreciated by 15 Kobo to N17.50 per share from N17.65 per share.

Aradel Holdings Plc remained the most active stock by value (year-to-date) with 11.2 million units worth N43.5 billion, Afriland Properties Plc was next with 293.3 million units valued at N5.2 billion, and Central Securities Clearing  System (CSCS) Plc was in third with 107.3 million units sold for N2.6 billion.

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