CSCS, Friesland Lift Unlisted Stock Exchange by N11.91bn

May 11, 2022
Regconnect CSCS

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) returned to the bullish zone on Tuesday by 1.29 per cent caused by the northward movement in the prices of two bellwethers; FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.

The share price of Friesland rose by N6.64 or 5.7 per cent to settle at N116.64 per unit compared with the preceding session’s N110.00 per unit, while CSCS gained N1.17 or 6.9 per cent to quote at N17.00 per unit versus Monday’s N15.83 per unit.

As a result, the market capitalisation of the unlisted stock exchange increased by N11.91 billion to N933.44 billion from N921.53 billion, while the NASD Unlisted Securities Index (NSI) expanded by 9.06 points to 709.91 points from 700.85 points.

However, the was a lone price loser and this was Vital Product Plc, which depreciated by 23 kobo or 9.9 per cent to close at N2.10 per share compared with the previous day’s N2.33 per share.

During the trading day, the volume of securities traded witnessed a 51.4 per cent fall to 377,862 units from 777,552 units, while the value of securities transacted by investors depreciated by 79.6 per cent to N28.9 million from N141.2 million, with the number of deals increasing by 300 per cent to 32 deals from the eight deals executed a day earlier.

AG Mortgage Bank Plc finished the session as the most traded stock by volume (year-to-date) with the sale of 2.3 billion units worth N1.2 billion, CSCS Plc occupied second place with 661.4 million units valued at N13.9 billion, while Food Concepts Plc was in third place with 69.0 million units valued at N56.0 million.

But CSCS Plc was the most traded stock by value (year-to-date) with a turnover of 661.4 million units exchanged for N13.9 billion, AG Mortgage Bank Plc was in second place with 2.3 billion units worth N1.2 billion, while Friesland was in third place with 8.3 million units valued at N1.1 billion.

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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