By Adedapo Adesanya
A surge in activity level, triggered by selling pressure, weakened the NASD Over-the-Counter (OTC) Securities Exchange further on Thursday, July 11 by 1.04 per cent.
This effectively brought down the value of the bourse by N21.48 billion to N2.044 trillion from N2.065 trillion it closed in the preceding session, and depleted the NASD Unlisted Security Index (NSI) by 15.68 points to wrap the session at 1,491.89 points compared with 1,507.57 points recorded in the previous session.
The loss posted by the unlisted securities market was influenced by the decline in the share prices of three equities on the platform.
FrieslandCampina Wamco Nigeria Plc depreciated by N3.05 to trade at N46.95 per unit compared with the previous session’s N50.00 per unit, Aradel Holdings Plc dipped by N67.08 to sell for N4,732.92 per share versus Wednesday’s closing price of N4,800.00 per share, and Afriland Properties Plc went south by 1 Kobo to sell at N17.99 per unit, in contrast to the midweek’s N18.00 per unit.
Yesterday, there was a surge in the trading value by 3,128.9 per cent to N4.9 billion from the N150.6 million recorded a day earlier, the volume of stocks traded by the market participants increased by 230,214.2 per cent to 225.9 million units from the 98,067 units made on Wednesday, and the number of deals increased by 3.0 per cent to 34 deals from the 33 deals executed in the previous trading day.
Capital Hotels Plc ended the session as the most active stock by volume on a year-to-date basis with 259.6 million units worth N1.3 billion, followed by Afriland Properties with 230.3 million units valued at N4.1 billion, and Industrial and General Insurance (IGI) Plc with 218.8 million units sold for N46.1 million.
Aradel Holdings Plc closed the day as the most active stocks by value on a year-to-date basis with 6.8 million units valued at N19.1 billion, trailed by Afriland Properties with 230.3 million units valued at N4.1 billion, and Central Securities Clearing System (CSCS) Plc with 101.7 million units worth N2.5 billion.