CSCS Lifts NASD OTC Stock Exchange by 0.8%

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc led the NASD Over-the-Counter (OTC) Securities Exchange into the positive territory by 0.08 per cent on Friday, April 14.

The performance of the stock of the Nigerian securities depository company lifted the market capitalisation of the NASD OTC stock exchange by N800 million at the close of transactions to N1.023 trillion from the N1.022 trillion it quoted on Thursday.

This movement was also seen with the NASD Unlisted Securities Index (NSI), which increased by 0.58 points to end the day at 739.58 points as against the 739.00 points it recorded in the previous session.

Business Post reports that CSCS Plc appreciated by N1.09 yesterday to sell at N14.70 per unit compared with the previous session’s N13.61 per unit.

The improvement in the share price of CSCS watered the effect of the N2.40 loss reported by FrieslandCampina Wamco Nigeria Plc, which finished at N79.00 per unit versus Thursday’s N81.38 per unit.

Yesterday, the volume of securities traded at the bourse by investors went down by 97.7 per cent to 174,170 units from the 7.5 million units transacted a day earlier.

However, there was a jump in the value of shares traded by investors during the session by 28.6 per cent to N16.3 million from the N12.7 million achieved the previous day.

These transactions were carried out in six deals compared with the four deals carried out in the preceding trading day, indicating a 50 per cent increase.

Geo-Fluids Plc remained the most traded stock by volume (year-to-date) with 811.3 million units worth N1.3 billion, followed by Industrial and General Insurance (IGI) Plc with 604.6 million units valued at N47.7 million, while UBN Property Plc stood in third place with 369.8 units amounting to N313.0 million.

Also, VFD Group Plc was the most traded stock by value (year-to-date) with 10.4 million units worth N2.4 billion, followed by Geo-Fluids Plc with 811.3 million units worth N1.3 billion, and UBN Property Plc with 369.8 million units valued at N313.0 million.