Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year.
The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria.
This increased the NASD Unlisted Securities Index (NSI) by 2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was increased by N3 billion on a week-on-week to finish at N1.143 trillion compared with the preceding week’s N1.140 trillion.
Food Concepts Plc led the price gainers’ after it rose by 10.1 per cent to N1.53 per share from N1.39 per share, UBN Property Plc appreciated by 9.9 per cent to finish at N1.22 per unit versus the preceding week’s N1.11 per unit, and Acorn Petroleum Plc gained 8.8 per cent to wrap the week at 37 Kobo per share versus 34 Kobo per share.
Further, Industrial and General Insurance (IGI) Plc grew by 8.7 per cent to end at 25 Kobo per unit compared with the earlier week’s 23 Kobo per unit, Aradel Holdings Plc improved by 6.3 per cent to close at N600.00 per share versus N564.71 per share, and Geo-Fluids Plc rose by 2.5 per cent to N2.90 per unit from N2.83 per unit.
Conversely, three companies found their stocks losing value, with NASD Plc leading after it shed 9.1 per cent to N11.50 per unit from N12.65 per unit, First Trust Microfinance Bank Plc dropped 8.5 per cent to trade at 43 Kobo per share compared with 47 Kobo per share, and FrieslandCampina Wamco Plc lost 4.9 per cent to close at N72.20 per unit versus the previous week’s N75.90 per unit.
Last week, the total volume of stock traded surged by 508.0 per cent to 28.7 million units from 4.7 million units, the value of transactions increased by 25.7 per cent to N142.39 million from N113.26 million, while the number of deals rose by 3.30 per cent to 94 deals, in contrast to the 91 deals executed in Week 37.
At the close of the week, Aradel Plc was the most traded stock by value with N52.6 million, Geo-Fluids Plc traded N44.8 million, Central Securities Clearing System (CSCS) Plc exchanged N26.02 million, UBN Property Plc transacted N11.21 million while FrieslandCampina Wamco Plc traded N3.10 million.
In terms of the volume of trades in the week, Geo-Fluids Plc topped with 15.5 million units, UBN Property Plc followed with 10.09 million units, CSCS Plc posted 1.49 million units, First Trust Microfinance Bank Plc recorded 0.74 million units while Acorn Petroleum Plc closed the week transacting 0.26 million units.
