IGI, Two Others Weaken NASD OTC Exchange 0.06%

By Adedapo Adesanya

Three stocks went south and took the NASD Over-the-Counter (OTC) Securities Exchange down the same path with a 0.06 per cent loss on Thursday, October 17.

When the bourse ended for the trading session, the value of the platform depleted by N650 million to N1.044 trillion from the N1.045 trillion recorded a day earlier, as the NASD Unlisted Security Index (NSI) declined by 1.83 points to end the day at 2,981.26 points as against 2,983.13 points recorded at the previous session.

Industrial and General Insurance (IGI) fell by 2 Kobo during the trading day to sell at 19 Kobo per unit versus Wednesday’s closing price of 21 Kobo per unit.

In addition, Afriland Properties Plc shrank yesterday by 38 Kobo to close at N18.00 per share compared with the previous day’s N18.38 per share, and Central Securities Clearing System (CSCS) retreated by 1 Kobo to N22.00 per unit from the midweek’s N22.01 per unit.

However, Acorn Petroleum Plc finished the session as the day’s sole price gainer after it went up by 10 Kobo to N2.70 per share from the previous session’s N2.80 per share.

The volume of securities traded at the bourse on Thursday went down by 98.1 per cent to 209,575 units from the 11.1 million units transacted a day earlier.

In the same vein, the value of shares traded by the market participants decreased by 98.2 per cent to close at N980,477 versus Wednesday’s N53.8 million.

These transactions were carried out in 19 deals, in contrast to the 43 deals executed in the previous trading session, indicating a decline of 55.8 per cent.

Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.4 billion units sold for N3.3 billion, trailed by Okitipupa Plc with 751.3 million units valued at N7.7 billion, and Afriland Properties Plc with 296.4 million units worth N5.3 million.

Aradel Holdings Plc closed the day as the most active stock by value (year-to-date) despite its exit from the platform with 108.7 million units worth N89.2 billion, trailed by Okitipupa Plc with 751.3 million units valued at N7.7 billion, and Afriland Properties Plc with 296.4 million units sold for N5.3 billion.