Over-the-Counter Securities Exchange Gains 2.00% in Week 50

December 18, 2023
over-the-counter stocks

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 2.00 per cent in Week 50 following renewed confidence in the alternative stock market in Nigeria.

This helped the value of the bourse to rise by N22.35 billion to N1.224 trillion from the N1.202 trillion it ended a week earlier, as the NASD Unlisted Security Index (NSI) added 16.49 points to close at 902.99 points compared with 886.50 points in Week 49.

In the five-day trading week, the total volume of stocks traded surged by 2,233.7 per cent to 647.3 million units from 27.7 million in the preceding week, the value of shares skyrocketed by 778.9 per cent to N1.4 billion from N157.7 million, and the number of deals increased by 31.3 per cent to 84 deals from 64 deals.

At the close of transactions, UBN Property Plc topped activity chart by volume with 590.4 million units, Geo-Fluids Plc followed with 52.7 million units, CSCS Plc posted 2.2 million units, FrieslandCampina Plc recorded 1.3 million units, and Acorn Petroleum Plc transacted 0.32 million units.

Also, UBN Property Plc was the most traded stock by value with N1.03 billion, Geo-Fluids recorded N141.2 million, FrieslandCampina Wamco Nigeria posted N97.4 million, 11 Plc exchanged N57.5 million, and CSCS Plc traded N41.8 million.

Week 50 saw the share prices of 10 companies on the platform making movements, with seven on the green side and three on the red side.

Aradel Holdings Plc gained N90 to settle at N990.00 per share versus N900.00 per share of the previous week, 11 Plc appreciated by N17.47 to close at N200.00 per share compared with the previous week’s N146.30 per share, NASD Plc grew by N1.20 to N13.20 per unit from N12.00 per unit, Acorn Petroleum Plc grew by 6 Kobo to 66 Kobo per unit from 60 Kobo per unit, Afriland Properties Plc made a 4 Kobo gain to end at N3.46 per share versus N3.42 per share, Food Concepts Plc appreciated by 2 Kobo from N1.65 per unit to N1.67 per unit, and UBN Property Plc chalked up 10 Kobo to close at N175 per share, in contrast to the preceding week’s N1.65 per share.

On the flip side, FrieslandCampina Wamco Nigeria Plc dropped N1.30 to close at N75.60 per unit versus N76.90 per unit, Central Securities Clearing System (CSCS) Plc depreciated by 53 Kobo to N18.72 per unit versus N19.25 per unit, and Geo-Fluids Plc fell by 4 Kobo to go from N2.69 per share to N2.65 per share.

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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