NASD OTC Bourse Further Gains 2.84% as Aradel Hits N2,000 Per Share

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a back-to-back growth on Wednesday, recording a further increase of 2.84 per cent at the close of transactions.

This lifted the market capitalisation of the OTC bourse by N40.56 billion to close at N1.470 trillion compared with the N1.429 trillion it quoted in the previous session while the NASD Unlisted Security Index (NSI) jumped by 29.92 points to end the day at 1,084.68 points as against the 1,054.76 points it recorded a day earlier.

The improvement recorded by the unlisted securities market was propelled by three price gainers, which pressed down the lone price loser recorded when trading activities ended for the session.

Aradel Holdings Plc maintained its upward movement after it further gained N182.26 to sell at N2,006.00 per share compared with the previous day’s N1,823.74 per share, Nipco Plc appreciated by N7.20 to finish at N79.20 per unit versus N72.00 per unit, and Central Securities Clearing System (CSCS) Plc chalked up 45 Kobo to trade at N20.00 per share versus Tuesday’s closing price of N19.55 per share.

However, the stock price of FrieslandCampina Wamco Nigeria went down by N1.35 yesterday to settle at N78.44 per unit, in contrast to the previous day’s N79.79 per unit.

At the midweek session, investors exchanged 1.4 million units, which is 372.6 per cent higher than the 300,983 units transacted in the preceding day, and the total value of stocks traded at the session went down by 78.8 per cent to N46.2 million from N217.5 million, as the number of deals increased by 76.5 per cent to 30 deals from the preceding session’s 17 deals.

At the close of business, IPWA Plc remained the most traded stock by volume (year-to-date) with 48.9 million units sold for N24.4 million, followed by UBN Property Plc with 35.1 million units valued at N61.3 million, and Geo-Fluids with 30.1 million units worth N73.6 million.

Aradel Holdings Plc was the most traded stock by value (year-to-date) with 474,010 units sold for N698.7 million, followed by FrieslandCampina Plc with 2.4 million units worth N183.9 million, and Geo-Fluids Plc was in third place with 30.1 million units valued at N73.6 million.