NASD OTC Bourse Slumps 0.6%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.6 per cent depreciation on Tuesday, August 6, after FrieslandCampina Wamco Nigeria Plc and Aradel Holdings Plc closed lower at the close of business.

This happened despite Central Securities Clearing System (CSCS) Plc gaining 48 Kobo yesterday to trade at N20.48 per share, in contrast to the preceding day’s N20.00 per share.

FrieslandCampina Wamco Nigeria lost 97 Kobo during the trading day to quote at N46.03 per unit compared with Monday’s closing price of N47.00 per unit, and Aradel Holdings dipped by N56.78 equivalent to sell for N4,400.00 per share compared with the preceding day’s rate of N4,456.78 per share.

As a result, the market capitalisation went down by N11.83 billion to close at N1.961 trillion compared with the previous day’s value of N1.972 trillion and the NASD Unlisted Security Index (NSI) dipped by 35.64 points to wrap the session at 1,403.94 points compared with the 1,439.58 points recorded in the previous session.

There was a jump in the volume of shares traded yesterday by 56.3 per cent to 410,172 units from the 262,401 units recorded a day earlier, and the number of deals increased by 65.6 per cent to 53 deals from the 32 deals in the preceding trading session, while the value of transactions decreased by 71.1 per cent to N292.8 million from the N1.01 billion recorded in the preceding session.

When the trading session ended, Aradel Holdings Plc, with a turnover of 8.7 million units valued at N27.6 billion, remained as the most active equity by value on a year-to-date basis, followed by Afriland Properties Plc with 230.5 million units sold for N4.1 billion, and CSCS Plc with 102.2 million units worth N2.5 billion.

Also, Capital Hotels Plc remained as the most active stock by volume on a year-to-date basis with 259.6 million units worth N1.3 billion, trailed by Afriland Properties Plc with 230.5 million units worth N4.1 billion, and Industrial and General Insurance (IGI) Plc with 218.8 million units valued at N46.1 million.