NASD OTC Bourse Remains in Red Zone After 0.02% Loss

April 17, 2024

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another marginal drop, this time by 0.02 per cent on Tuesday, April 16, resulting in a N290 million decline in the market capitalisation of the bourse, which closed at N1.407 trillion compared with the preceding day’s N1.408 trillion.

Similarly, the NASD Unlisted Security Index (NSI) went down by 0.21 points during the trading day to 1,028.12 points from the 1,028.33 points recorded at the previous session.

The loss was mainly caused by Afriland Properties Plc, which depreciated by 21 Kobo to close at N9.79 per share compared with Monday’s closing price of N10.00 per share.

The firm held its Annual General Meeting (AGM) yesterday and the shareholders approved the payment of N343.5 million dividend for the 2023 financial year.

At the NASD OTC bourse on Tuesday, the volume of securities traded by investors increased by 108.2 per cent to 1.5 million units from 745,587 units on Monday, the value of shares traded by the market participants went up by 157.8 per cent to N12.8 million from N4.9 million.

These transactions were carried out in 19 deals, 26.7 per cent higher than the 15 deals executed at the alternative stock market a day earlier.

Capital Hotels Plc ended the trading day as the most active stock by volume on a year-to-date basis with 228.6 million valued at N1.1 billion, as IPWA Plc occupied the second position with the sale of 79.9 million units for N40.0 million, and Mixta Real Estate Plc was in the third spot after selling 69.9 million units for N114.6 million.

The most traded stock by value on a year-to-date basis remained Aradel Holdings Plc with a turnover of 3.4 million units valued at N6.9 billion. It was closely followed by Central Securities Clearing System (CSCS) Plc with 45.2 million units sold for N1.3 billion, and Capital Hotels Plc with the sale of 228.6 million worth N1.1 billion.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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