CSCS Boosts NASD Exchange 1.66% Growth on Thursday

Regconnect CSCS

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recovered more than the loss it previously recorded on Thursday, May 28.

At previous session on Wednesday, the market shed 1.31 percent, but yesterday, the market closed with a 1.66 percent growth.

This was boosted by gains achieved by securities depository company, Central Securities Clearing Systems (CSCS) Plc, which saw its share price rise by 86 kobo or 6.35 percent to N13.55 from N12.69 it previously exchanged.

This pushed the market capitalisation up by N8.29 billion to N507.40 billion from N499.11 billion and lifted the NASD Unlisted Security Index (NSI) by 11.29 points to 690.75 points from 679.46 points recorded at the previous session.

During the session, the total volume of securities transacted by investors improved by 356,066 percent to 170.1 million units from the last session’s 47,750 units.

These trading volume was realised from the eight deals achieved during the session by the bellwethers of the unlisted securities market.

Niger Delta Exploration and Production (NDEP) Plc recorded five deals, FrieslandCampina WAMCO Nigeria Plc printed two deals, while CSCS Plc, which was the day’s sole price riser, achieved a single deal.

These transactions resulted into a boost in the trading value, which increased by 16,914.10 percent to N2.3 billion from N13.7 million posted at the previous session.

At the close of business, ARM Life Plc closed the session as the company with the highest number of traded stocks (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 194.6 million units worth N2.6 billion, while Food Concept Plc held the third position with 110 million units of its shares exchanged for N77 million.

In terms of the most traded stock by value (year-to-date), ARM Life Plc also remained on top of the chart with 7.4 billion units of its securities traded for N4.6 billion, while CSCS Plc followed with 194.6 million units exchanged for N2.6 billion, with NDEP Plc in third place for trading 7.0 million units of its securities valued at N2.2 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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