Profit-Taking Bleeds NASD OTC Securities Market By 2.12%

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 2.12 per cent loss on Tuesday, June 4, triggered by profit-taking after the bourse broke the N2 trillion ceiling recently.

Yesterday, the value of the NASD OTC securities market went down by N45.21 billion to settle at N2.046 trillion compared with the preceding day’s value of N2.091 trillion, as the NASD Unlisted Security Index (NSI) decreased by 32.41 points to wrap the session at 1,493.43 points compared with 1,525.84 points recorded at the previous session.

Business Post reports that despite the loss, investor sentiment was bullish, as the platform closed with two losers and three price gainers, according to data obtained by this newspaper.

FrieslandCampina Wamco Nigeria Plc depreciated during the trading session by N2.27 to sell at N47.73 per share versus Monday’s N50.00 per share, and Aradel Holdings Plc weakened by N210.83 to end at N4,755.17 per unit compared with the previous session’s N4,966.00 per unit.

Conversely, Geo-Fluids Plc gained 10 Kobo to quote at 2.00 per share versus N1.90 per share, Central Securities Clearing System (CSCS) Plc improved its value by 89 Kobo to end at N19.50 per unit against the preceding day’s N18.61 per unit, and Afriland Properties Plc jumped by 69 Kobo to close the session at N17.69 per share, in contrast to the last session’s N17.00 per share.

There was a 60.5 per cent surge in the volume of securities traded at the market on Tuesday to 3.0 million units from 1.9 million units, as the value of shares increased by 27.4 per cent to N232.9 million from N182.8 million units, while the number of deals appreciated by 88.9 per cent to 68 deals from 36 deals.

Aradel Holdings Plc was the most active stock by value on a year-to-date basis with 5.9 million units sold for N14.5 billion, trailed by CSCS Plc with 101.1 million units worth N2.5 billion, and Capital Hotels Plc with 228.6 million units valued at N1.1 billion.

Capital Hotels Plc ended the day as the most active stock by volume on a year-to-date basis with 228.6 million units worth N1.1 billion, followed by Mixta Real Estate Plc with 139.8 million units sold for N240.1 million, and CSCS Plc with 101.1 million units valued at N2.5 billion.

By Adedapo Adesanya

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