NASD Records 1.65% Growth in Week 7 of 2024

February 19, 2024
NASD OTC securities exchange

By Adedapo Adesanya

Amid headwinds, the NASD Over-the-Counter (OTC) Securities Exchange recorded another weekly appreciation, growing by 1.65 per cent on a week-on-week basis, its seventh straight week of positive movement this year.

This resulted in the rise in the NASD Unlisted Security Index (ASI) by 18.70 points in the period under review to 1,151.26 points from the 1,132.56 points it closed in Week 6, as the market capitalisation, which measures the total value of stocks on the platform, increased by N26 billion to N1,561 trillion from N1.535 trillion.

Business Post reports that three equities supported the growth posted by the unlisted securities market, overpowering the losses recorded by four shares.

Acorn Petroleum Plc led the gainers with a 10 per cent appreciation to end the week at N1.11 per share versus N1.00 per share, Mixta Real Estate Plc jumped by 6.4 per cent to N2.50 per unit from N2.35 per unit, and  Aradel Holdings Plc further expanded by 5.4 per cent to N2,541.95 per share from N2,324.95 per share.

On the losers’ chart, Industrial and General Insurance (IGI) Plc fell by 8.3 per cent to end the week at 22 Kobo per unit versus 24 Kobo per unit, Central Securities Clearing System (CSCS) Plc dropped 1.6 per cent to N18.80 per share from N18.50 per share, UBN Property Plc depreciated by 1.1 per cent to sell at N1.73 per unit compared with the previous week’s N1.75 per unit, and FrieslandCampina Wamco Nigeria Plc decreased by 0.7 per cent to N75.00 per share from N75.50 per share.

In the week, investors transacted 11.9 million units of securities, 957.9 per cent lower than the 73.7 million units of securities traded a week earlier, as the value of transactions depleted by 61.5 per cent to N373.1 million from N969.6 million, and the number of deals went down by 21.3 per cent to 75 deals from 91 deals.

Aradel Holdings Plc was the busiest stock by value last week with N300.9 million, FrieslandCampina Wamco Nigeria Plc recorded N43.8 million, Geo-Fluids posted N25.7 million, CSCS Plc traded N1.4 million, and UBN Property Plc transacted N0.8 million.

The busiest stock by volume in the week was Geo-Fluids Plc with 10.3 million units, FrieslandCampina Wamco Nigeria Plc posted 0.58 million units, UBN Property Plc transacted 0.45 million units, IGI Plc recorded 0.25 million units, and Acorn Petroleum Plc traded 0.17 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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