NASD OTC Market Extends Rally For Seventh Straight Week

May 27, 2024
NASD OTC securities exchange

By Adedapo Adesanya

For the seventh straight week, the NASD Over-the-Counter (OTC) Securities Exchange maintained its positive momentum in Week 21 with a 5.3 per cent appreciation.

This was achieved last week as a result of the gains reported by five securities on the platform, with Aradel Holdings Plc appreciating by 12.0 per cent to close at N3,680.90 per unit compared with the preceding week’s N3,285.44 per unit.

Afriland Properties Plc rose by 7.0 per cent to end at N14.98 per share versus N14.00 per share, Industrial and General Insurance (IGI) Plc increased by 5.00 per cent to close at 21 Kobo per unit compared with the previous week’s 20 Kobo per unit, 11 Plc jumped by 3.4 per cent to end at N192.32 per share versus the previous week’s N186 per share, and Central Securities Clearing System (CSCS) Plc recorded a 2.7 per cent boost to N19.98 per unit from N19.45 per unit.

In the week, there were three price losers with Nipco Plc shedding 9.1 per cent to close at N72.00 per unit against N79.20 per unit of the preceding trading week, Geo-Fluids Plc lost 7.3 per cent to end at N1.90 per share versus the preceding week’s N2.05 per share, and FrieslandCampina Wamco Nigeria Plc crumbled by 0.04 per cent to N49.98 per unit from the previous week’s N50.00 per unit.

Last week, the market capitalisation moved up on a week-on-week basis by N91 billion to N1.811 trillion from N1.720 trillion, and the NASD Unlisted Security Index (NSI) gained 65.93 points to close at 1,321.95 points compared with the previous week’s 1,256.02 points.

The total volume of transactions during the week fell by 81.3 per cent to 13.6 million units from 72.9 million units, the total value of trades declined by 53.4 per cent to N930 million from N1.99 billion, and the number of deals decreased by 10.7 per cent to 225 trades from 252 trades.

Aradel Holdings Plc was the busiest by value with N800.0 million, FrieslandCampina Wamco Plc recorded N38.9 million, 11 Plc posted N30.6 million, CSCS Plc recorded N26.6 million, and Geo-Fluids Plc traded N19.4 million.

By volume, Geo-Fluids Plc topped with 10.2 million units, CSCS Plc traded 1.3 million units, FrieslandCampina Wamco Nigeria Plc exchanged 0.78 million units, Afriland Properties Plc transacted 0.69 million units, and Aradel Plc traded 0.23 million units.

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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