Buying Interest in CSCS Extends Gains at NASD

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the positive zone for another trading session with a 0.04 per cent growth on Wednesday, January 5.

The bulls remained at the unlisted securities market yesterday as a result of the bullish price movement in the shares of Central Securities Clearing Systems (CSCS) Plc.

The value of the securities depository company further appreciated during the midweek session by 5 kobo or 0.3 per cent to trade at N19.05 per share in contrast to the previous closing price of N19 per share.

This development expanded the total value of stocks admitted on the NASD trading platform yesterday by N250 million to N633.03 billion from N632.78 billion it closed on Tuesday.

In the same trend, the NASD Unlisted Security Index (NSI) appreciated on Wednesday by 0.3 points to 747.58 points from the 747.28 points recorded at the previous session.

A look at the activity chart indicated that the total value of securities transacted by investors at the session rose by 1.2 per cent to N975,452.00 from N963,000 of the preceding trading day just as the volume of transactions increased by 140.5 per cent to 31,739 units from 13,200 units, with the number of deals rising by 75 per cent due to the seven deals executed at the exchange on Wednesday compared with the four deals carried out a day earlier.

When the market closed for the day, the most traded stock by value on a year-to-date basis was Friesland Campina WAMCO Nigeria Plc with the sale of 10,939 units valued at N1.3 million. It was closely trailed by CSCS Plc with the sale of 34,000 units valued at N648,250.

However, the most traded stock by volume on a year-to-date basis was CSCS as a result of the 34,000 units of its units securities sold for N648,250, while Friesland Campina WAMCO Nigeria Plc occupied the second position with a turnover of 10,939 units worth N1.3 million.