CSCS Drags Unlisted Securities Market Down 0.24%

January 13, 2023
Regconnect CSCS

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange was pulled into bearish territory on Thursday, January 12, by a drop in the stock price of Central Securities Clearing Systems (CSCS) Plc.

The equities of the company punctured the unlisted securities market by 0.24 per cent at the close to trades yesterday.

This scrapped off N2.19 billion from the total value of the alternative exchange as the market capitalization closed at N927.42 billion compared with the N929.61 billion it quoted at the previous session.

Also, the NASD Unlisted Securities Index (NSI) shed 1.67 points to end the day at 705.79 points as against the 707.46 points it recorded in the midweek session.

Business Post reports that the price of CSCS Plc went down by 50 Kobo during the day to finish at N12.60 per unit against N13.10 per unit that it previously traded.

It overshadowed the 6 Kobo improvement in the share price of Geo Fluids Plc, as the stock closed the session at 76 Kobo per share, in contrast to 70 Kobo per share of the preceding trading session.

On the activity chart, there was a rise in the volume of securities traded at the bourse, as investors exchanged 20.4 million units, in contrast to the 1.9 million units transacted on Wednesday, indicating a 955.7 per cent rise.

Likewise, there was an ascent in the value of shares traded yesterday by 92.7 per cent to N15.6 million from N8.1 million, while the number of deals went down by 74.2 per cent to eight deals from the 31 deals completed a day earlier.

Geo Fluids Plc closed the session as the most traded stock by volume on a year-to-date basis, with 20.4 million units valued at N15.5 million. UBN Property Plc has transacted 6.2 units valued at N4.5 million to claim the second spot, while FrieslandCampina Wamco Nigeria was in third place for selling 508,506 units worth N33.9 million.

On the flip side, VFD Group Plc was the most active stock by value on a year-to-date basis with a turnover of 417,492 units worth N101.9 million, trailed by FrieslandCampina Wamco Nigeria Plc with 508,506 units valued at N33.9 million, and Geo Fluids Plc with 20.4 million units valued at N15.5 million.

Adedapo Adesanya

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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