Unlisted Securities Investors Gain N10.5bn as Index Rises 0.94%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its winning streak to four days as it appreciated by 0.94 per cent on Thursday, October 19.

This was due to the 7.75 points gained by the NASD Unlisted Security Index (NSI), closing at 830.97 points compared with the previous day’s 823.22 points. Also, the market capitalisation of the exchange increased by N10.50 billion to close at N1.126 trillion, in contrast to Wednesday’s closing value of N1.115 trillion.

The improvement witnessed by the unlisted securities market was influenced by the gains recorded by three securities listed on the trading platform.

Aradel Plc saw its share price surge by N42.85 to close at N642.85 per share versus the midweek session’s N600.00 per share, Geo-Fluids Plc grew by 27 Kobo to end the day at N2.97 per unit versus N2.70 per unit, and NASD Plc recorded a 10 Kobo rise to end at N11.00 per share, in contrast to the previous day’s N10.90 per share.

At the close of transactions, investors traded a total of 5.7 million units of securities, in contrast to the 2.6 million units of securities transacted in the preceding session, indicating a jump of 120.8 per cent.

However, the value of shares exchanged by the market participants went down by 21.7 per cent to N73.2 million from the N93.4 million recorded a day earlier, as the number of deals depreciated by 23.1 per cent to 10 transactions from the 13 transactions quoted in the preceding market day.

The most traded stock by volume (year-to-date) was Central Securities Clearing System (CSCS) with 1.2 billion units sold for N22.3 billion, UBN Property Plc was in second place with 952.8 million units worth N950.8 million and Geo-Fluids Plc stood in third place with 686.6 units valued at N1.3 billion.

The most traded stock by value (year-to-date) was also CSCS Plc with the sale of 1.2 billion units worth N22.3 billion, VFD Group followed with 26.6 million units valued at N5.9 billion, and Aradel Holdings Plc was in third place with 7.0 million units worth N2.7 billion.