CSCS Buoys Unlisted Securities Market by 1.86% Amid Cautious Trading

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc raised the NASD Over-the-Counter (OTC) Securities Exchange by 1.86 per cent on Monday, September 14, after its share price went up by N9.96 to close at N109.62 per unit compared with the previous N99.66 per unit.

This lifted the NASD Security Index (NSI) by 82.97 points to 4,555.42 points from 4,472.45 points, and increased the platform’s market capitalisation by N49.8 billion to N2.734 trillion from N2.684 trillion.

Investors’ appetite weakened yesterday, as the volume of securities fell by 97.5 per cent to 15,594 units from 615,427 units. The value of transactions for the session decreased by 93.6 per cent to N1.4 million from the preceding session’s N21.6 million, and the number of deals slumped by 71.4 per cent to eight deals from 28 deals.

Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units traded for N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 81.9 million units exchanged for N6.0 billion.

GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.