Portfolios of OTC Stock Investors Swell by 4.02%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded another week-on-week appreciation in Week 6, growing by 4.02 per cent to make it the sixth in a row.

In the week, the NASD Unlisted Security Index (NSI) jumped by 43.82 points to settle at 1,132.56 points, in contrast to the 1088.74 points it ended in the preceding week, as the market capitalisation of the alternative exchange expanded by N59 billion to N1.535 trillion from N1.476 trillion.

The growth reported by the bourse was influenced by the rise in the prices of six securities, which overpowered the decline suffered by three securities, indicating a bullish investor sentiment.

Air Liquide Plc gained 20.3 per cent to trade at N8.00 per unit compared with the previous week’s N6.65 per unit, Aradel Holdings Plc appreciated by 15.8 per cent to N2,324.95 per share from N2,007 per share, Mixta Real Estate Plc jumped by 10.1 per cent to N1.64 per unit from N1.49 per unit, Newrest Asl Plc improved by 9.9 per cent to N19.48 per share from N17.71 per share, Afriland Properties Plc expanded by 3.5 per cent to N4.11 per unit from the previous N3.97 per unit, and UBN Property Plc rose by 1.7 per cent to sell at N1.75 per share versus the previous week’s N1.72 per share.

However, Geo Fluids Plc lost 9.3 per cent to trade at N2.35 per unit compared with Week 5’s closing price of N2.59 per unit, Central Securities Clearing System (CSCS) Plc declined by 6.0 per cent to end the week at N18.80 per share versus N20.00 per share, and FrieslandCampina Wamco Nigeria Plc depreciated by 3.8 per cent to N75.50 per unit from N78.50 per unit.

Investors bought and sold 73.7 million units of shares in the week, 957.9 per cent higher than the 6.9 million units of shares recorded in the preceding week.

Also, the value of securities traded by the market participants surged by 182.3 per cent to N969.6 million from N346.5 million, and the number of deals increased by 15.2 per cent to 91 deals versus 79 deals from the preceding week.

Mixta Real Estate Plc was the busiest after trading 69.9 million units, UBN Property Plc exchanged 2.1 million units, CSCS Plc posted 550,630 units, Aradel Holdings Plc recorded 379,003 units, and Industrial and General Insurance (IGI) Plc posted 235,500 units.

However, Aradel Holdings Plc led the activity log by value with N829.3 million, followed by Mixta Real Estate Plc with N114.5 million, FrieslandCampina Wamco Nigeria Plc recorded N10.3 million, CSCS Plc traded N10.3 million, and UBN Property Plc transacted N3.6 million.