OTC Bourse Drops 0.93% in 32nd Trading Week of 2024

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to the southern region in Week 32 after it closed lower by 0.93 per cent.

During the trading week, the market capitalisation fell below the N2 trillion mark after it shed N19 billion to settle at N1.996 trillion compared with the N2.015 trillion it ended in Week 31.

In the same vein, the NASD Unlisted Security Index (NSI) recorded a 13.70-point deduction to end the week at 1,456.53 points versus the preceding week’s 1,470.23 points.

Business Post reports that the OTC bourse recorded four price losers and one price gainer, indicating a negative market breadth index.

Central Securities Clearing System (CSCS) Plc led the losers’ group after it shed 7.5 per cent to end at N18.50 per unit compared with the preceding week’s N20.00 per unit.

FrieslandCampina Wamco Nigeria Plc depreciated by 6.3 per cent to trade at N45.00 per share versus the previous week’s N48.00 per share, Aradel Holdings Plc slid by 0.8 per cent to close at N4,603.62 per unit compared with the N4,641.18 per unit it ended a week earlier, and Afriland Properties Plc lost 0.3 per cent to finish at N15.95 per share, in contrast to the previous week’s N16.00 per share.

Conversely, Purple Real Estate Plc appreciated in the week by 10 per cent to end at N7.47 per unit against the preceding week’s N6.79 per unit.

The volume of trades last week fell by 47.7 per cent to 6.98 million units from 13.35 million units, while the value of transactions went up by 39.8 per cent to N3.61 billion from N2.59 billion, and the number of deals grew by 5.02 per cent to 230 deals from 219 deals.

CSCS Plc was the most traded security by volume with 3.3 million units, Geo Fluids Plc traded 2.5 million units, Aradel Holdings Plc exchanged 0.79 million units, FrieslandCampina Wamco Plc transacted 0.35 million units, and 11 Plc traded 0.04 million units.

But Aradel Holdings Plc was the busiest by value with N3.5 billion, CSCS Plc traded N60 million, FrieslandCampina Wamco Plc recorded N16 million, Geo Fluids Plc posted N5 million, and Afriland Properties Plc achieved N1 million.