CSCS Gains Strength to Lift Unlisted Securities by 0.14%

By Adedapo Adesanya

The unlisted securities market appreciated by 0.14 per cent on Wednesday on the back of the gains recorded by the shares of Central Securities Clearing System (CSCS) Plc.

The company was the only price riser at the midweek trading session, adding 15 kobo to its value to close at N15.90 per share in contrast to N15.75 per share it was quoted on Tuesday.

This price appreciation helped the overall outcome of the NASD Over-the-Counter (OTC) Securities Exchange, which recorded no trading activity the previous day because investors stayed away from the market.

At the close of business, the NASD Security Index (NSI) appreciated by 1.05 points to settle at 742.72 points compared with the preceding day’s 741.67 points.

Likewise, the market capitalisation of the bourse increased by N750 million to close at N532.91 billion as against N532.16 billion it closed at the last trading session.

Yesterday, there was a drop in the volume of transactions recorded at the exchange by 75.3 per cent to 11,500 units from 46,540 units recorded at the previous session.

Also, the value of the shares transacted by market participants went down by 86.8 per cent to close at N574,500 in contrast to N4.3 million recorded previously at the market.

However, the number of deals executed by investors at the unlisted securities market increased by 50 per cent as a total of three deals were carried out during the session compared with the two deals executed at the preceding trading day.

Business Post reports that these deals were executed on CSCS Plc, Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc.

CSCS Plc closed the day as the most active stock by volume (year-to-date) with the sale of 45,890 units of its shares worth N724,268. It was followed by NDEP Plc, which has traded 11,650 units worth N4.1 million, while FrieslanndCampina WAMCO Plc has transacted 500 units worth N60,500.

But the most active stock by value (year-to-date) was NDEP Plc, which has transacted 11,650 units worth N4.1 million. CSCS Plc occupied the second spot with the sale of 45,890 shares worth N724,268, while FrieslandCampina WAMCO Nigeria has sold 500 securities valued at N60,500.