NASD OTC Exchange Posts 31% Gain in Week 40 as Aradel Rises 46%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded its highest week-on-week growth in Week 40 after it closed higher by 31 per cent despite operating for only four days.

The market was closed for business last Tuesday due to the public holiday observed in Nigeria for the nation’s Independence Day anniversary.

In the trading week, the unlisted securities market crossed the N40 trillion threshold amid renewed interest in Aradel Holdings Plc, which is planning to exit the platform to join the elite Nigerian Exchange (NGX) Limited.

Business Post reports that last week, investors at the NASD OTC exchange gained N946.65 billion, leaving the market capitalisation at N4.005 trillion, in contrast to the preceding week’s N3.060 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) appreciated by 690.88 points to settle for the week at 2,919.36 points versus the 2,228.48 points it ended in Week 39.

Aradel Holdings rose by 45.5 per cent to finish at N683.30 per unit compared with the previous week’s N469.95 per unit, Okitipupa Plc expanded by 33.0 per cent to N13.70 share from N10.30 per share, and Acorn Petroleum Plc grew by 28.6 per cent to N1.44 per unit from N1.12 per unit.

Further, Afriland Properties Plc increased by 22.4 per cent to N18.00 per share from N14.71 per share, Geo-Fluids went up by 20.7 per cent to N3.32 per unit from N2.75 per unit, Central Securities Clearing System (CSCS) Plc jumped by 13.5 per cent to N23.27 per share from N20.50 per share, and Nipco Plc chalked up 10 per cent to trade at N88.63 per unit against the former value of N80.57 per unit.

On the flip side, NASD Plc went down by 8.8 per cent to N14.10 per share versus the preceding week’s N15.49 per share, and FrieslandCampina Wamco Nigeria Plc depreciated by 3.3 per cent to N46.00 per unit from N47.54 per unit.

The activity chart showed a 90.9 per cent contraction in the volume of trades to 53.7 million units from 592.14 million units, the value of transactions moderated by 3.9 per cent to N3.42 billion from N3.56 billion, while the number of deals increased by 257.1 per cent to 425 deals from the 119 deals recorded in the previous week.

The most traded stock by value for the week was Aradel Holdings Plc with N3.24 billion, Geo-Fluids Plc trailed with N131 million, FrieslandCampina Wamco Nigeria Plc recorded N160 million, NASD Plc posted N9 million, and CSCS Plc achieved N7 million.

But the most active stock by volume for the week was Geo-Fluids Plc with 42.6 million units, followed by Aradel Holdings Plc with 5.6 million units, Acorn Petroleum Plc exchanged 3.5 million units, NASD Plc transacted 0.69 million units, and Okitipupa Plc traded 0.36 million units.