NASD OTC Exchange Jumps 2.20% as Trading Value Surges 6,446%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) recorded a 2.20 per cent jump on Friday, March 22 as investors recorded an increase of N31.51 billion in their portfolios after the market capitalisation of the bourse closed at N1.464 trillion compared with the previous day’s N1.432 trillion.

In the same vein, NASD Unlisted Security Index (NSI) went up at the close of business by 23.35 points to 1,080.29 points from the 1,057.04 points it ended in the preceding trading session.

The growth was buoyed by the rise in the share prices of two energy firms admitted to the trading platform, overpowering the losses recorded by two other companies.

Aradel Holdings Plc gained N180 to end the session at N1,980.00 per unit versus Thursday’s closing price of N1,800.00 per unit, and 11 Plc rose by N5.00 to close at N195.00 per share compared with the previous day’s N190.00 per share.

However, FrieslandCampina Wamco Nigeria Plc lost N3.76 to finish at N67.07 per unit versus N70.83 per unit, and Central Securities Clearing System (CSCS) Plc went down by 41 Kobo to N23.50 per share from N23.91 per share.

The volume of securities traded at Friday’s session increased by 663.9 per cent to 1.6 million units from 218,390 units, the value of shares traded soared by 6,446.1 per cent to N1.6 billion from N24.8 million, and the number of deals appreciated by 21.4 per cent to 17 deals from 14 deals.

The most traded stock by volume on a year-to-date basis was IPWA Plc with 79.9 million units valued at N40.0 million, Mixta Real Estate Plc occupied the second spot with 69.9 million units worth N114.6 million, and the third position was taken by Geo-Fluids Plc with 53.8 million units valued at N133.5 million.

Aradel Holdings Plc ended the trading session as the most traded stock by value on a year-to-date basis with a turnover of 3.2 million units valued at N6.4 billion, followed by FrieslandCampina Wamco Nigeria Plc with the sale of 5.0 million units for N374.9 million, and CSCS Plc with 9.1 million units worth N191.7 million.