Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange witnessed selling pressure last week, resulting in a 5.06 per cent loss at the close of transactions in Week 10.
As a result, the market capitalisation of the alternative bourse decreased by N79 billion to N1.469 trillion from the N1.548 trillion it closed in the preceding week, and the NASD Unlisted Security Index (NSI) went down by 57.76 points to 1,083.85 points from the 1,141.61 points it ended in Week 9.
In the week, there were eight price movers, with four on the losing side and four on the winning side.
Aradel Holdings Plc, UBN Property Plc, Industrial and General Insurance (IGI) Plc, and Resourcery Plc pulled down the market last week, with Aradel Holdings Plc the ring leader after declining by 16.5 per cent to close at N2,000.00 per share versus the preceding week’s N2,395.00 per share.
UBN Property Plc lost 8.4 per cent to trade at N1.74 per unit compared with N1.90 per unit, IGI Plc depreciated by 4.8 per cent to 20 Kobo per unit from 21 Kobo, and Resourcery Plc dipped by 2.4 per cent to end at 40 Kobo per share versus 41 Kobo per share.
On the flip side, Afriland Properties Plc gained 9.9 per cent to settle at N4.52 per share compared with N4.11 per share, FrieslandCampina Wamco Plc jumped by 3.6 per cent to N73.95 per unit from N71.40 per unit, Central Securities Clearing System (CSCS) Plc rose by 2.8 per cent to N20.01 per share from N19.46 per share, and Geo-Fluids appreciated by 2.8 per cent to N2.57 per unit from N2.50 per unit.
Last week, there was a 49.2 per cent decrease in the total value of transactions to N313.1 million from N616.5 million, the volume of trades, however, expanded by 151.7 per cent to 6.4 million units from 2.5 million units, and the number of deals went down by 19.9 per cent to 80 deals from 121 deals.
At the close of the week, Geo-Fluids Plc was the most traded securities by volume with 2.17 million units, UBN Property Plc traded 1.67 million units, CSCS Plc exchanged 1.02 million units, Afriland Properties Plc transacted 0.76 million units, and IGI Plc traded 0.50 million units.
In terms of the value of trades, Aradel Holdings Plc topped with N271.1 million, CSCS Plc followed with N20.3 million, FrieslandCampina posted N9.7 million, Geo-Fluids Plc recorded N5.57 million and Afriland Properties Plc exchanged N3.4 million.
