NASD OTC Bourse Rebounds by 1.45%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rebounded by 1.45 per cent on Thursday, September 19 to reverse the previous day’s loss.

This raised the market capitalisation of the NASD OTC bourse by N43.51 billion at the close of trading activities to N3.052 trillion from the N3.009 trillion quoted in the preceding trading session.

In the same vein, the NASD Unlisted Security Index (NSI) recorded a growth of 31.75 points to end the day at 2,227.60 points, in contrast to the midweek session’s 2,195.85 points.

The revitalisation of the alternative stock exchange occurred amid a decline in the volume of securities traded at the bourse yesterday by 31.5 per cent to 1.7 million units from the 2.5 million units transacted by market participants on Wednesday.

Equally, the value of securities bought and sold by investors tumbled by 42.5 per cent to N411.5 million from the N711.5 million achieved a day earlier.

However, the number of deals executive by traders on Thursday went up by 31.2 per cent to 101 deals from the 77 deals carried out on the midweek trading day.

The market ended yesterday with three price gainers and one price loser.

Acorn Petroleum rose by 11 Kobo to end at N1.20 per share compared with the previous day’s N1.09 per share, Aradel Holdings Plc appreciated by N198.29 to close at N9,399.00 per unit versus Wednesday’s N9,200.71 per unit, and Central Securities Clearing System (CSCS) Plc improved its value by 5 Kobo to trade at N19.85 per share, in contrast to midweek’s N19.80 per share.

On the flip side, Resourcery Plc depreciated at the close of business by 1 Kobo to settle at 39 Kobo per unit compared with the preceding day’s 40 Kobo per unit.

Aradel Holdings Plc remained the most traded stock by value (year-to-date) with 11.2 million units worth N43.5 billion, trailed by Afriland Properties Plc with 293.3 million units sold for N5.2 billion, while CSCS Plc with 107.3 million units worth N2.6 billion.

Also, Afriland Properties Plc retained its spot as the most traded equity by volume (year-to-date) with 293.3 million units sold for N5.2 billion, followed by Capital Hotels Plc with 259.6 million units worth N1.3 billion, and Industrial and General Insurance (IGI) Plc with 221.9 million units valued at N46.7 million.