Business News

Trio Spurs 0.32% Gain at NASD OTC Bourse

NASD securities

By Adedapo Adesanya

The trio of Industrial and General Insurance (IGI) Plc, 11 Plc, and FrieslandCampina Wamco Nigeria Plc triggered a 0.32 per cent growth at the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, May 22.

This increased the market capitalisation of the alternative stock exchange by N5.57 million to wrap the session at N1.757 trillion compared with the preceding day’s N1.751 trillion.

In the same vein, it raised the NASD Unlisted Security Index (NSI) by 4.06 points to settle at 1,283.16 points compared with 1,279.10 points recorded in the previous session.

IGI Plc gained 1 Kobo to sell at 21 Kobo per share versus 20 Kobo per share, 11 Plc appreciated by N6.32 to trade at N192.32 per unit versus N186.00 per unit, and FrieslandCampina Wamco Nigeria Plc increased its value by N1.61 to end the session at N51.05 per unit, in contrast to the previous session’s N49.44 per unit.

There was a 181.1 per cent rise in the volume of securities traded by investors at midweek to 310,294 units from the 110,407 million units recorded a day earluer.

However, there was 31.8 per cent shortfall in the value of stocks transacted during the session to N48.1 million from the N70.6 million achieved in the previous trading day.

These transactions were carried out in 39 deals compared with the 21 deals executed at the preceding session, indicating an 85.7 per cent rise.

At the close of business, Aradel Holdings Plc was the most active equity by value on a year-to-date basis with a turnover of 5.2 million units valued at N11.5 billion, followed by Central Securities Clearing System (CSCS) Plc with the sale of 100.6 million units for N2.4 billion, and Capital Hotels Plc with 228.6 million units worth N1.1 billion.

Capital Hotels Plc ended the session as the most active stock by volume on a year-to-date basis with 228.6 million valued at N1.1 billion, trailed by Mixta Real Estate Plc with the sale of 139.8 million units for N240.1 million, and CSCS Plc with 100.6 million units worth N2.4 billion.