Bulls Maintain Firm Grip on NASD OTC Bourse

bulls on NASD

By Adedapo Adesanya

Central Securities Clearing Systems (CSCS) Plc made room for the bulls to remain for another day on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, November 18.

The day’s favourable outcome marked the third straight day the unlisted securities market will record growth and this happened because the share price of CSCS moved up by 0.55 per cent or 8 kobo during the trading day to close at N14.58 per share in contrast to N14.50 per share it closed at the last session.

As a result of the price appreciation printed by the market bellwether at the midweek session, the NASD Unlisted Securities Index (NSI) moved up by 0.54 points to 736.53 points from 735.99 points.

The market capitalisation also gained N400 million to wrap the day at N547.46 billion in contrast to N547.06 billion it finished on Tuesday, setting a new record of the highest valuation of the market year-to-date.

Unlike in the prior day, the trading volume improved yesterday by 2,900.9 per cent as a total of 12.1 million units of shares exchanged hands compared with the 403,930 units transacted previously.

These transactions were carried out in eight deals from three admitted companies. CSCS Plc made four deals, while FrieslandCampina WAMCO Nigeria Plc and Food Concepts Plc accounted for two deals each.

For the value of these trades, it went up by 127.6 per cent to N13.3 million compared with the previous day’s N5.9 million.

Business Post reports that the market was with no price decliner on Wednesday.

By the close of trades, ARM Life Plc maintained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 204.0 million units traded at N2.7 billion, while Food Concepts Plc followed with 152.1 million units traded at N109.4 million.

In terms of the most traded stock by value (year-to-date), ARM Life Plc still retained the top spot after transacting 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 10.9 million units exchanged for N3.4 billion while CSCS Plc traded 204.0 million units valued at N2.7 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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