NASD OTC Exchange Hits N1.3trn Valuation After 1.65% Rise

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its progress in the green territory with a 1.65 per cent rise on Tuesday, January 9, raising its market capitalisation by N21.08 billion to N1.302 trillion from the N1.281 trillion it ended on Monday.

Similarly, the NASD Unlisted Security Index (NSI) moved closer to 1,000 points yesterday after it chalked up 15.55 points to settle at 960.76 points compared with the 945.21 points it finished in the preceding trading session.

The feat achieved by the NASD OTC exchange during the session was buoyed by the increase in the share prices of four companies admitted to the trading platform.

Aradel Holdings Plc gained N75.59 on Tuesday to sell for N1,256.89 per unit versus the previous day’s N1,181.30 per unit, Geo-Fluids Plc appreciated by 20 Kobo to close the day at N2.50 per share versus N2.30 per share, Central Securities Clearing System (CSCS) Plc improved by 92 Kobo to N19.96 per unit from N19.02 per unit, and Capital Bancorp Plc went up by 5 Kobo to N2.20 per share from N2.15 per share.

Inversely, UBN Property Plc Plc posted a decline of 15 Kobo, closing at N1.75 per unit, in contrast to the previous day’s N1.90 per unit.

Yesterday, the volume of securities traded at the bourse soared by 497.9 per cent to 30.9 million units from 5.1 million units, the number of deals rose by 25 per cent to 30 deals from 24 deals, while the value of shares decreased by 4.4 per cent to N117.6 million from N122.9 million.

UBN Property Plc became the most traded stock by volume (year-to-date) with 24.0 million units valued at N42.0 million, Geo-Fluids Plc was in second place with 20.0 million units worth N48.0 million and Purple Real Estate was in third place with 5.5 million units valued at N28.8 million.

by value on a year-to-date basis, Aradel Plc was the most traded with 255,704 units sold for N304.7 million, followed by Geo-Fluids Plc with 20.0 million units valued at N48.0 billion and UBN Property Plc with 24.0 million units valued at N42.0 million.