CSCS, Afriland Pull NASD Exchange Down by 0.24% Tuesday

By Adedapo Adesanya

Equities contracted by 0.24 per cent at the NASD Over-the-Counter (OTC) Securities Exchange of the first trading session of the month of September on Tuesday.

The slide reduced the NASD Unlisted Securities Index (NSI) by 1.7 points to 709.45 points from 711.15 points it closed on the last trading day of August.

Equally, the market capitalisation recorded a 0.24 per cent downward movement equivalent to N1.25 billion as it ended the day at N521.14 billion compared to N522.39 billion in the preceding session.

The day’s drop can be attributed to losses made by the Central Securities Clearing Systems (CSCS) Plc and Afriland Properties Plc.

CSCS lost 20 kobo to sell at N13.80 per share compared to N14 per share, while Afriland Properties made an 18 kobo depreciation to close the day at N1.66 per unit as against the previous day’s N1.84 per share.

Stocks worth N2.4 million were exchanged at the bourse on Tuesday, indicating a 160 per cent day-on-day rise when compared with Monday’s N916,689.20 worth of trades.

A total of seven deals were made on Tuesday, the same number of deals on Monday and they were on three companies; FrieslandCampina WAMCO Nigeria Plc (five deals), CSCS Plc (one deal) and Afriland Properties (one deal).

Business Post reports that these deals resulted in the trading of 49,753 units of stocks at the market, 558.1 per cent higher than the 7,560 units of unlisted securities recorded at the previous session.

Dominating the chart of the most active stock by volume (year-to-date) yesterday was ARM Life Plc, which traded 7.4 billion units of its shares worth N4.6 billion. CSCS Plc followed with 201.1 million units valued at N2.7 billion, while Food Concept Plc came in third with 125.1 million units of its shares worth N88.1 million.

Equally, ARM Life Plc also remained the highest traded stock by value (year-to-date) with 7.4 billion units sold for N4.6 billion, while Niger Delta Exploration and Production (NDEP) Plc followed with 8.8 million units valued at N2.7 billion, with CSCS Plc transacting 201.1 million units worth N2.7 billion.