CSCS, Geo-Fluids Help NASD OTC Exchange End 2020 on Positive Note

January 1, 2021
Geo Fluids

By Adedapo Adesanya

The final trading session for the year 2020 at the NASD Over-the-Counter (OTC) Securities Exchange ended on a positive note on Thursday, December 31, with a 0.1 per cent growth.

The NASD Unlisted Security Index (NSI) rose by 0.7 points to end the year at 733.00 points as against 732.30 points it recorded at the previous session.

Equally, the market capitalisation, which measures the total value of equities on the exchange, increased during the session by N551 million to close at N525.94 billion in contrast to N525.43 billion it finished on Wednesday.

The bullish outcome came from the price appreciation recorded in the shares of Central Securities Clearing Systems (CSCS) Plc and Geo-Fluids Plc.

Geo-Fluids Plc pulled a 6 kobo or 9.5 per cent gain to wrap the day at 69 kobo per share versus 63 kobo per share it ended at the preceding session, while CSCS Plc made a 5 kobo or 0.3 per cent appreciation to end the day at N15.05 per share versus N15 per share it was sold a day earlier.

The activity chart showed that there was a rise in the volume of securities transacted at the session while the value of transactions decreased.

At the market on Thursday, investors exchanged 1.1 million units, 13,752.2 per cent higher than the 8,000 units transacted on Wednesday by market participants.

But the value of shares traded by investors reduced by 45.8 per cent to N1.5 million from the N2.7 million achieved at the midweek session.

These trades were executed in five deals, 400 per cent higher than the single deal recorded a day earlier. There was no price loser at bourse yesterday.

ARM Life Plc closed the year as the company with the highest number of shares traded by investors with 7.4 billion units worth N4.6 billion. CSCS Plc was in second place with 213.7 million units worth N2.9 billion, while Food Concepts Plc held the third position with 152.2 million units worth N109.5 million.

In terms of the value of trades for the year, ARM Life Plc occupied the top spot with 7.4 billion units of its securities traded for N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 12.0 million units valued at N3.9 billion, while CSCS Plc traded 213.7 million units valued at N2.9 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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