NASD OTC Stocks Grow 2.75% in Week 2 of 2024

January 15, 2024
Nigerian OTC securities exchange

By Adedapo Adesanya

The second trading week of 2024 at the NASD Over-the-Counter (OTC) Securities Exchange ended on a positive note after it improved by 2.75 per cent.

According to the weekly NASD market review and analysis, the market capitalisation of the bourse increased by N35 billion in the five-day trading week to N1.294 trillion from the N1.259 trillion it ended in Week 1.

In the same vein, the NASD Unlisted Security Index appreciated by 25.56 points to close the week at 954.55 points, in contrast to the 928.99 points it finished in the preceding week.

Four companies admitted to the platform were responsible for the growth recorded in the trading week, overpowering the losses posted by three firms.

Central Securities Clearing System (CSCS) Plc led the gainers after it gained 15.3 per cent to settle at N19.95 per unit compared with the previous close of N17.31 per unit, Aradel Holdings Plc soared by 10.3 per cent to close at N1,230.10 per share compared with the preceding week’s N1,115.10 per share, Industrial and General Insurance (IGI) Plc improved by 3.7 per cent to end at 28 Kobo per share versus 27 Kobo per share, and Capital Bancorp Plc jumped by 2.3 per cent to finish the week at N2.20 per unit, in contrast to N2.15 per unit of the previous week.

On the losers’ chart, UBN Property saw its stocks fall by 2.6 per cent to close at N1.90 per share versus N1.85 per share of the previous week. FrieslandCampina Wamco Nigeria Plc lost 2.0 per cent to sell at N80.33 per unit as against the earlier week’s N82.00 per unit, and Geo-Fluids Plc went down by 1.9 per cent to N2.50 per share from N2.55 per share.

In the week, the value of transactions rose by 270.6 per cent to N273.1 million from N73.7 million, the volume trades went up by 257.2 per cent to 36.9 million units from 10.3 million units, and the number of deals grew by 252.9 per cent to 120 deals from 34 deals.

UBN Property Plc was the most traded stock by volume with 2.08 million units, Geo-Fluids Plc transacted 1.5 million units, IGI Plc posted 365,000 units, CSCS Plc recorded 240,376 units, and Capital Bancorp Plc sold 200,000 units.

However, Aradel was the most traded stock by value with N188.6 million, Geo-Fluids Plc recorded N36.5 million, UBN Property Plc traded N36.4 million, FrieslandCampina Wamco recorded N6.1 million and CSCS Plc exchanged N4.6 million.

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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