Value of Unlisted Securities Market Rises to N1.6trn

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed on Wednesday, May 8 with a 3.5 per cent appreciation as the market capitalisation added N54.01 billion to wrap the session at N1.602 trillion compared with the preceding session’s N1.548 trillion.

Also, the NASD Unlisted Security Index (NSI) increased by 39.07 points to wrap the session at 1,169.74 points compared with 1,130.67 points recorded in the previous day.

The positive outcome was influenced by the gains posted by three equities led by Aradel Holdings Plc, which rose by N242.00 to settle at N2,662.00 per unit compared with the preceding day’s N2,420.00 per unit.

In addition, Afriland Properties Plc rose by 50 Kobo to sell at N13.50 per share versus N13.00 per share, and Central Securities Clearing System (CSCS) improved its value by 5 Kobo to close at N21.50 per unit, in contrast to Tuesday’s closing price of N21.45 per unit.

The value of securities traded by investors at the unlisted securities market increased by 121 per cent to N328.9 million from N148.8 million, while the volume of securities transacted at midweek depreciated by 46.8 per cent to 2.7 million units from the 5.1 million units recorded in the previous trading day, with the number of deals going up by 11.1 per cent to 30 deals from the 27 deals executed a day earlier.

The most traded stock by value on a year-to-date basis was Aradel Holdings Plc with a turnover of 4.3 million units valued at N8.6 billion, trailed by CSCS Plc with the sale of 47.9 million units for N1.3 billion, and Capital Hotels Plc with a turnover of 228.6 million worth N1.1 billion.

But the most traded stock by volume on a year-to-date basis was Capital Hotels Plc with the sale of 228.6 million units for N1.1 billion, followed by IPWA Plc with a turnover of 79.9 million units worth N40.0 million, and Geo-Fluids Plc with the sale of 77.0 million units valued at N185.1 million