NASD OTC Rises 6.9% as Investors Splash N14.1bn on Stocks

By Adedapo Adesanya

There was a 6.9 per cent gain at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, October 10 as the market capitalisation added N262.14 billion in value to close at N4.086 trillion from N3.823 trillion that was quoted at the previous session.

In the same vein, the NASD Unlisted Security Index (USI) recorded a rise of 191.07 points to end the day at 2,978.24 points against 2,787.17 points it recorded at the previous session.

This came as there was a surge in the value of stocks traded as investors splurged N14.1 billion on stocks which is 1,068 per cent higher than the N1.2 billion recorded a day earlier.

Also, the volume of securities traded at the bourse increased by 70.2 per cent to 22.4 million units from the 75.1 million units posted in the previous day.

A total of 239 deals were executed at the bourse during the trading session, which is 18.3 per cent higher than the 202 deals carried out in the preceding trading day.

The unlisted securities market closed yesterday with three price gainers and one price loser.

Aradel Holdings Plc appreciated by N60.08 during the session to end at N701.14 per share compared with the previous day’s N641.06 per share.

This is coming ahead of the exit of the company from the NASD and listing on the Nigerian Exchange (NGX) Limited on Monday, October 14, 2024.

Acorn Petroleum appreciated during the session by 16 Kobo to sell at N1.82 per unit versus N1.66 per unit and Nipco Plc rose by N4.37 to quote at N93.00 per share versus N88.63 per share, while Geo-Fluids Plc went down by 1 Kobo to finish at N3.55 per unit versus N3.56 per unit.

At the close of business, Geo-Fluids Plc was the most active stock by volume (year-to-date) with 1.4 billion units sold for N3.3 billion, Okitipupa Plc came next with 751.3 million units valued at N7.7 billion, and Afriland Properties Plc traded 296.4 million units worth N5.3 million.

Aradel Holdings Plc remained the most active stock by value (year-to-date) with 104.7 million units worth N86.3 billion, followed by Okitipupa Plc with 751.3 million units valued at N7.7 billion, and Afriland Properties Plc was in third with 296.4 million units sold for N5.3 billion.