CSCS Helps Unlisted Securities Market into Positive Territory

By Adedapo Adesanya

The unlisted securities market in Nigeria closed in the positive territory on Wednesday, thanks to the contribution of Central Securities Clearing System (CSCS) Plc.

The 13 kobo added to the share price of the Nigerian central securities depository company during yesterday’s trading session influenced the 0.13 percent growth achieved by the market.

Business Post reports that the share price of CSCS consequently finished at N12 per unit at the midweek session on the floor of the NASD Over-the-Counter (OTC) Securities Exchange.

The market capitalisation increased yesterday by N650 million to N508.76 billion from N508.11 billion, while the and NASD Unlisted Securities Index (NSI) grew by 0.91 points from 706.74 points to 707.65 points.

The total volume of shares transacted by investors also rose at the midweek session by 78 percent or 313,960 units to 713,960 units from 400,000 units traded at the previous trading session.

Similarly, the total value of stocks transacted by traders at the NASD Exchange appreciated by 296 percent equivalent to N13.8 million to N18.5 million from N4.7 million on Tuesday.

In the same vein, the number of deals executed on Wednesday on the bourse improved by 300 percent or six deals to eight deals from the two deals carried out at the previous trading day.

These deals were carried out by two companies; CSCS Plc and FrieslandCampina WAMCO Plc, which executed four deals each.

ARM Life Plc still led the chart of the most traded stock by volume (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion, while Food Concept Plc was in second place with 110 million units traded at N77.0 million, with CSCS Plc came third after trading 16 million units of its securities valued at N183.7 million.

As regards the most traded stock by value (year-to-date), ARM Life Plc still held the top spot with the sale of 7.4 billion units of its shares worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 5.9 million units transacted for N1.9 billion, while FrieslandCampina WAMCO Plc traded 1.8 million units worth N221.4 million.