NASD Index Rises Above 900 Points as Four Stocks Gain Weight

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange crossed another psychological mark on Wednesday after it appreciated 1.17 per cent following the rise in the prices of four stocks.

Business Post reports that the NASD Unlisted Security Index (NSI) closed above 900 points during the session after it chalked up 10.47 points to wrap the session at 902.87 points compared with the 872.40 points recorded in the previous session.

Equally, the value of the alternative bourse expanded by N14.19 billion during the midweek trading day to close at N1.224 trillion, in contrast to Tuesday’s closing value of N1.209 trillion.

The price gainers were led by Aradel Plc, which increased its price by N90 to settle at N990.00 per unit versus the previous day’s N900.00 per unit, NASD Plc added N1.20 to close at N13.20 per share compared with the earlier day’s price of N12.00 per share, Acorn Petroleum rose by 5 Kobo to settle at 65 Kobo per share versus the previous closing price of 60 Kobo per share, and Afriland Properties Plc went up by 4 Kobo to sell at N3.46 per unit, in contrast to Tuesday’s price of N3.42 per unit.

However, the price of Central Securities Clearing System (CSCS) Plc went down by N1.10 to quote at N18.76 per share compared with the preceding day’s N19.86 per share, and FrieslandCampina Wamco Nigeria Plc depreciated by 31 Kobo to close at N75.61 per unit, in contrast to the previous day’s N75.92 per unit.

The volume of securities traded at the bourse in the midweek session went down by 76.9 per cent to 859,584 units from 3.7 million units, the value of shares traded decreased by 71.9 per cent to N26.1 million from N92.6 million, and the number of deals fell by 45.8 per cent to 13 deals from 24 deals.

UBN Property Plc was the most traded stock by volume (year-to-date) with 1.7 billion units valued at N2.2 billion, CSCS Plc was in second place with 1.2 billion units worth N22.4 billion, and Geo-Fluids Plc stood in third place with 729.5 units valued at N1.4 billion.

CSCS Plc ended the day as the most traded stock by value (year-to-date) with the sale of 1.2 billion units for N22.4 billion, VFD Group occupied the second spot with 26.6 million units for N5.9 billion, and Aradel Holdings Plc was in third place with 7.8 million units valued at N3.1 billion.