CSCS Buoys Unlisted Securities Market’s 0.29% Growth

By Adedapo Adesanya

Gains recorded by the shares of Central Securities Clearing System (CSCS) Plc on Monday, April 6 helped the NASD Over-the-Counter (OTC) Securities Exchange close in the green territory.

At the close of transactions on the first day of the week, the share price of the securities depository company appreciated by 30 kobo or 2.40 percent to N12.49 per share from N12.19 per share.

The stock was the only advancer yesterday and it spurred the 0.29 percent growth reported by the bourse’s major performance indicators.

When market activities were brought to a halt on Monday, the NASD Unlisted Security Index (NSI) grew by 0.29 percent or 2.04 points to 694.75 points from 692.71 points.

In the same vein, the market capitalisation rose by 0.29 percent or N1.5 billion from N508.84 billion to N510.34 billion.

During the trading session, there was a rise in total volume of shares transacted by investors, growing by 200.9 percent to 1.05 million units compared with 349,000 units realized at the last trading session.

Also, the total value of shares transacted yesterday rose by 200.5 percent or N8.7 million to N13.1 million from N4.4 million achieved last Friday.

However, there was no rise in the number of deals recorded at the unlisted securities market on Monday as investors executed three deals, the same number of deals recorded at the previous session. These deals were done by the day’s only price gainer, CSCS Plc.

On the activity chart, 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 exchanged at the market. The second place was occupied by Food Concept Plc for trading 110 million units of its securities worth N77 million, while financial investment company, Lighthouse Financial Services Plc, followed with 47.7 million units of its shares traded for N23.8 million.

Also, the stock with the highest trade by value (year-to-date) at the close of business yesterday was ARM Life Plc, which has traded 7.4 billion units of its shares worth N4.6 billion. Trailing were Niger Delta Exploration and Production (NDEP) Plc, which has transacted 6.5 million units valued at N2.03 billion, and FrieslandCampina WAMCO Plc, which has traded 2.2 million units for N269.7 million.