CSCS Drags NASD OTC Market Down 0.55%

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange further by 0.55 per cent on Friday, November 6.

The securities depository company bested four gainers to drag the NASD Security Index (NSI) down by 23.29 points to 4,249.79 points from 4,273.18 points, and shrank the market capitalisation by N14.05 billion to N2.550 trillion from N2.564 trillion.

The share price of CSCS Plc was down during the session by N3.10 to N94.90 per unit from the previous day’s N98.00 per unit.

On the flip side, Lighthouse Financial Services Plc appreciated by 15 Kobo to sell at N1.64 per share compared with the previous day’s N1.49 per share. Industrial and General Insurance (IGI) Plc improved by 7 Kobo to 75 Kobo per unit from 68 Kobo per unit, Mass Telecom Innovation Plc added 3 Kobo to end at 37 Kobo per share versus 34 Kobo per share, and Afriland Properties Plc gained 2 Kobo to settle at N12.53 per unit compared with the previous day’s N12.51 per unit.

Yesterday, the volume of securities surged 106,029.4 per cent to 1.2 billion units from 1.1 million units, the value of securities jumped 30,739.2 per cent to N3.3 billion from N10.6 million, and the number of deals increased by 40.00 per cent to 35 deals from the 25 deals recorded on Thursday.