OTC Securities Exchange Appreciates by 1.85%

May 22, 2024
NASD OTC securities exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.85 per cent appreciation on Tuesday, May 21 after three stocks on the trading platform closed higher.

Aradel Holdings Plc witnessed an addition of N310.73 to its share price to finish at N3,423.00 per unit compared with the preceding day’s N3,112.27 per unit.

Further, Afriland Properties Plc gained 17 Kobo to close at N15.57 per share versus the previous day’s closing price of N15.40 per unit, and FrieslandCampina Wamco Nigeria Plc chalked up 52 Kobo to settle at N49.44 per share compared with Monday’s value of N48.92 per share.

As a result of the gains, the market capitalisation of the OTC securities exchange increased by N31.82 billion to close at N1.751 trillion, in contrast to the preceding session’s N1.720 trillion.

Similarly, the NASD Unlisted Security Index (NSI) rose at the close of transactions by 23.24 points to finish at 1,279.10 points compared with the 1,255.86 points recorded in the previous session.

The level of activity waned yesterday as the volume of transactions, the value of trades, and the number of deals carried out decreased.

The volume of shares traded on Tuesday went down by 99.1 per cent to 110,407 units from 11.7 million units, the value of securities bought and sold by investors shrank by 88.7 per cent to N70.6 million from the N662.3 million recorded a day earlier, and the number of deals went down by 80.2 per cent to 21 deals from the 106 deals reported on Monday.

At the close of trades, Aradel Holdings Plc was the most active stock by (year-to-date) with 5.2  million units valued at N11.5 billion, Central Securities Clearing System (CSCS) Plc occupied the second spot with 100.6 million units sold for N2.4 billion, and the third position was taken by Capital Hotels Plc with 228.6 million units worth N1.1 billion.

The most active stock by volume (year-to-date) remained Capital Hotels Plc with 228.6 million units worth N1.1 billion, and the second spot was filled by Mixta Real Estate Plc with 139.8 million units valued at N240.1 million, and the third position was claimed by CSCS Plc with 100.6 million units valued at N2.4 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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