Unlisted Securities Market Rebounds in Week 12

March 25, 2024
Unlisted Securities Market

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to the winning ways in Week 12 after recording three straight weekly losses.

It appreciated by 4.3 per cent last week, increasing the value of the unlisted securities market by N64 billion to N1.464 trillion from Week 11’s value of N1.404 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) closed the five-day trading week higher by 44.64 points to 1,080.29 points from the preceding week’s 1,035.65 points.

Business Post reports that the bourse recorded eight price movers in the week, with three on the gainers’ side and five on the laggards’ table.

Aradel Holdings Plc led the gainers as it mounted a 22.2 per cent appreciation to close at N1,980.00 per share compared with the previous week’s N1,620.00 per share, Afriland Properties Plc gained 16.6 per cent to trade at N6.67 per unit compared with the previous week’s N5.72 per unit, and Acorn Petroleum Plc improved by 0.8 per cent to quote at N1.20 per share versus the preceding week’s N1.19 per share.

On the flip side, 11 Plc went down by 7.1 per cent to finish at N195.00 per unit compared with the N210.00 per unit it closed a week earlier, FrieslandCampina Wamco Nigeria Plc lost 6.9 per cent to settle at N67.07 per share versus N72.00 per share, Food Concepts Plc dipped by 3.2 per cent to N2.15 per unit from N2.22 per unit, Central Securities Clearing System (CSCS) Plc fell by 1.7 per cent to N23.50 per share from N23.91 per share, and Geo-Fluids recorded a 0.8 per cent slide to end at N2.55 per unit, in contrast to the preceding week’s N2.57 per unit.

The total volume traded during the week fell by 88.6 per cent to 4.6 million units from 39.9 million units, the number of deals went down by 15 per cent to 79 deals from 93 deals, while the value of transaction surged by 386.7 per cent to N1.8 billion from N369.4 million.

At the close of the week, Geo-Fluids Plc was the most traded security by volume with 1.6 million units, CSCS Plc traded 1.0 million units, Aradel Holdings Plc exchanged 1.0 million units, FrieslandCampina Wamco Plc transacted 0.3 million units, and IPWA Plc traded 0.24 million units.

In terms of the value of trades in the week, Aradel Holdings Plc topped with N1.7 billion, CSCS Plc followed with N200 million, IPWA Plc also posted N200 million, Geo-Fluids Plc recorded N200 million, and FrieslandCampina Wamco Plc recorded N6.8 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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