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Business News

OTC Securities Exchange Rallies by 2.84%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed up by 2.84 per cent on Tuesday, January 30, extending the recent positive run by another trading session.

This increased the capitalisation of the bourse by N39.48 billion to close at N1.429 trillion from the N1.390 trillion it ended a day earlier, as the NASD Unlisted Security Index (NSI) recorded additional 29.12 points to end the day at 1,054.76 points as against the 1,025.64 points it recorded at the previous session.

The growth achieved yesterday was influenced by the trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc.

Aradel Plc continued its bullish momentum during the session after it closed higher by N165.80 to trade at N1,823.74 per share compared with the preceding day’s N1,657.94 per share, FrieslandCampina Wamco Nigeria appreciated by N1.69 to close at N79.79 per unit versus Monday’s closing price of N78.10 per unit, and Acorn Petroleum Plc rose by 8 Kobo to 93 Kobo per share from 85 Kobo per share.

Trading data showed that while the volume of securities traded at the bourse dropped, the value and the number of deals executed improved.

Investors exchanged 300,983 units, which is 92.9 per cent lower than the 4.3 million units transacted in the previous session.

The value of stocks traded at the session amounted to N217.5 million, which is 1,258.8 per cent higher than the N16.0 million recorded a day earlier.

These transactions were carried out in 17 deals yesterday compared with the 13 deals executed on Monday, representing a 30.8 per cent increase.

At the close of business, IPWA Plc remained the most traded stock by volume (year-to-date) with 48.9 million units worth N24.4 million, UBN Property Plc was in second place with 34.0 million units sold for N59.4 million, and Geo-Fluids was in third place with 30.1 million units valued at N73.6 million.

Also, Aradel Plc ended as the most traded stock by value (year-to-date) with 458,864 units sold for N668.3 million, trailed by FrieslandCampina with 2.3 million units valued at N174.4 million, and Geo-Fluids Plc with 30.1 million units worth N73.6 million.

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