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Economy

Aradel Holdings Spurs NASD OTC Exchange’s 1.04% Growth

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange opened the month of April on a positive note as a result of a upward movement in the price of Aradel Holdings Plc.

The alternative bourse appreciated by 1.04 per cent on Tuesday, April 2, the first trading session of the month as a result of a public holiday observed the previous day for Easter Monday.

When trading activities ended for the session, the value of the market rose by N15.7 billion to N1.518 trillion from N1.503 trillion, as the NASD Unlisted Security Index (NSI) appreciated by 11.58 points to wrap the session at 1,120.55 points compared with 1,108.97 points it close last Thursday, when the exchange last witnessed trading activities.

Aradel Holdings Plc gained N72.88 yesterday to sell at N2,225.76 per unit compared with the previous N2,152.88 per unit, though the share price of FrieslandCampina Wamco Nigeria Plc slumped by 7 Kobo to end at N67.00 per unit versus N67.07 per unit.

The volume of securities traded in the first session of the week went down by 99.5 per cent to 185,331 units from 38.9 million units, the value of shares traded yesterday depreciated by 91.2 per cent to N106.9 million from N1.2 billion, and the number of deals decreased by 67.6 per cent to 12 deals from 37 deals.

The most traded stock by volume on a year-to-date basis was IPWA Plc with 79.9 million units valued at N40.0 million, followed by Mixta Real Estate Plc with a turnover of 69.9 million units worth N114.6 million, and Geo-Fluids Plc with the sale of 58.8 million units valued at N146.3 million.

Also, Aradel Holdings Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 3.4 million units valued at N6.8 billion, trailed by Central Securities Clearing System (CSCS) Plc with 42.8 million units sold for N1.2 billion, and FrieslandCampina Wamco Nigeria Plc with 5.1 million units worth N381.4 million.

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