Afriland Properties, Aradel Holdings Elevate NASD Index by 0.85%

The duo of Afriland Properties Plc and Aradel Holdings Plc elevated the NASD Over-the-Counter (OTC) Securities Exchange by 0.85 per cent on Tuesday, April 30 with the gains they recorded.

Afriland Properties appreciated by 70 Kobo during the session to sell at N11.58 per unit compared with the previous day’s N11.15 per unit, and Aradel Holdings Plc improved its value by N55.35 to end at N2,200.00 per share, in contrast to Monday’s closing price of N2,144.65 per share.

The price appreciation posted by the duo suppressed the 1 Kobo loss reported by Food Concepts, owners of the popular food chain, Chicken Republic, closing at N2.14 per unit versus the preceding session’s N2.15 per unit.

Consequently, the market capitalisation of the bourse moved up by N12.72 billion to N1.502 trillion from N1.489 trillion, and the NASD Unlisted Security Index (NSI) recorded a rise of 9.29 points to end the day at 1,096.80 points as against 1,087.51 points it recorded at the previous session.

In terms of the volume of securities traded at the bourse, it rose by 87.8 per cent to 144,367 units from 76,857 units, but the value of securities transacted by the market participants went down by 77.9 per cent to N36.1 million from N163.4 million, and the number of deals decreased by 33.3 per cent to 10 deals from the 15 deals carried out a day earlier.

Aradel Holdings Plc, with a turnover of 4.0 million units valued at N8.0 billion, remained the most active equity by value (year-to-date), with Central Securities Clearing System (CSCS) Plc on the second spot after selling 45.2 million units for N1.3 billion, and the third position occupied by Capital Hotels Plc after transacting 228.6 million units worth N1.1 billion.

Capital Hotels Plc finished the day as the most traded stock by volume (year-to-date) with 228.6 million units valued at N1.1 billion, followed by IPWA Plc with 79.9 million units worth N40.0 million, and Mixta Real Estate Plc with 69.9 million units sold for N114.6 million.

The market will close on Wednesday in celebration of the May 1 Workers’ Day.

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