CSCS Leads NASD OTC Exchange to Positive Zone

By Adedapo Adesanya 

The NASD Over-the-Counter (OTC) Securities Exchange returned to the green territory on Monday, buoyed by gains posted by securities depository hardliner, Central Securities Clearing Systems (CSCS) Plc.

During the session, share price of the company improved, supporting the 0.19 percent growth posted by the exchange at the close of yesterday’s transactions.

Business Post reports that the market capitalisation increased on Monday by N950 million to N507.57 billion from N506.62 billion, while the NASD Unlisted Securities Index (NSI) gained 1.29 points to close at 690.98 points against 689.69 points it recorded at the previous session.

CSCS was the sole price riser and its share value improved by 19 kobo to N12.19 per unit from N12 per share.

The total volume of trades on Monday rose by 548 percent to 472,305 units from 72,861 units, while the value of transactions increased by 4,720 percent or N20.4 million to N20 million from N422,598.

Also, the total number deals executed during the session by investors increased by 375 percent or 15 as 19 deals were carried out yesterday compared with four deals of the previous trading day.

A summary of the transactions showed that both CSCS and FrieslandCampina WAMCO Nigeria Plc executed five deals each. Air Liquide Plc accounted for four deals, Allianz Insurance Nigeria Plc recorded three, while Niger Delta Exploration and Production (NDEP) Plc and Trustbond Mortgage Bank recorded one deal each.

ARM Life Plc closed the session as the most active stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. Food Concept Plc exchanged 77 million units worth N110 million, while CSCS Plc transacted 17.6 million units of its shares worth N203.8 million.

In terms of the most traded stock by value (year-to-date), ARM Life Plc maintained the top spot on the log, trading 7.4 billion units of its shares worth N4.6 billion. NDEP Plc followed with 6.5 million units exchanged for N2.01 billion, while FrieslandCampina occupied the third place with 2.0 million units of its securities valued at N241.3 million.