CSCS Extends Bullish Run at Unlisted Securities Market

By Adedapo Adesanya

For the second straight trading day, the NASD Over-the-Counter (OTC) Securities Exchange closed bullish as it grew by 0.56 per cent on Thursday, December 30.

This was influenced by the sterling performance of Central Securities Clearing System (CSCS) Plc during the session as its share price rose by 71 kobo or 3.8 per cent to close at N18.71 per unit compared with N18.00 per unit it finished on Wednesday.

As a result of this, the NASD unlisted security index (NSI) moved up by 4.18 points to 745.57 points from 741.39 points, while the market capitalisation gained N3.54 billion to wrap the day at N631.33 billion compared with N627.79 billion of the preceding day.

Business Post reports that the market witnessed a price loser yesterday as the share price of Niger Deta Exploration and Production (NDEP) Plc decline by 4 kobo or 0.02 per cent to close at N235.50 per unit compared to N235.54 per unit it ended a day earlier.

During the session, the trading volume retreated by 4 per cent as a total of 48.5 million units of shares exchanged hands compared with 50.4 million units transacted on Wednesday.

At the close of business, the trading value, however, rose by 13.6 per cent to N1.0 billion from the previous day’s N901.3 million, while the number of deals increased by 180 per cent to 14 deals from the five deals recorded at the previous session.

At the close of trades, Food Concepts Plc closed the session as the most active stock by volume (year-to-date) with 11.4 billion units of its shares worth N14.4 billion, Lighthouse Financial Service Plc followed with a turnover of 1.1 billion units valued at N546.2 million, while Geo Fluids Plc was in third place with the sale of 1.0 billion units worth N700.1 million.

Also, Food Concepts Plc was the most traded stock by value on a year-to-date basis with a turnover of 11.4 billion units of its securities worth N14.4 billion. It was followed by Nigerian Exchange (NGX) Group Plc with 456.4 million units valued at N9.2 billion, and VFD Group Plc with 10.4 million units worth N3.5 billion.