CSCS, Friesland Shrink NASD Unlisted Securities Index by 0.78%

By Adedapo Adesanya

The bears returned to the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday to trim the market by 0.78 per cent at the close of transactions.

The bears found their back into the ecosystem yesterday through Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc.

CSCS Plc depreciated during the trading day by N1.53 or 9.97 per cent to close at N13.82 per unit versus Monday’s price of N15.35 per unit, as Friesland lost 18 Kobo or 0.22 per cent to finish at N80.19 per share as against the N80.37 per share it ended in the last session.

As a result of this, the NASD unlisted securities index (NSI) moved downwards by 5.78 points to 738.73 points from 744.51 points, and the market capitalisation lost N8 billion to wrap the day at N1.022 trillion from N1.030 trillion.

Business Post reports that the bourse posted a price gainer yesterday, though its impact was not felt by the market. The share price of Afriland Properties Plc increased by 10 Kobo or 4.85 per cent to settle at N2.16 per unit compared with the preceding day’s N2.06 per unit.

During the session, the trading volume improved by 23.1 per cent as a total of 271,824 units of shares exchanged hands compared with the 220,795 units of shares transacted on Monday.

Also, the trading value rose by 7.8 per cent to N20.6 million from the previous day’s N19.1 million, while the number of deals depreciated by 31.6 per cent to 13 deals from the 19 deals achieved in the previous session.

Geo-Fluids Plc closed as the most traded stock by volume (year-to-date) for selling 801.1 million units worth N1.2 billion, UBN Property Plc followed with 365.8 units valued at N309.5 million, while Industrial and General Insurance (IGI) Plc was in third place with 91.2 million units worth N6.7 million.

Conversely, VFD Group Plc ended the session as the most traded stock by value (year-to-date) for exchanging 10.4 million units worth N2.4 billion, trailed by Geo-Fluids Plc with 801.1 million units worth N1.2 billion, and UBN Property Plc with 365.8 million units valued at N309.5 million.