CSCS Influences NASD OTC Exchange 0.39% Growth

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By Adedapo Adesanya

The NASD Over-the-counter (OTC) Securities Exchange started the week on a positive foot as Central Securities Clearing System (CSCS) Plc lifted the market by 0.39 per cent on Monday.

During the session, the bourse, which admits unlisted securities, saw its market capitalisation adding N3.75 billion to close at N961.94 billion compared with the preceding session’s Nhf as the NASD Unlisted Securities Index (NSI) expanded by 2.85 points to close at 730.73 points in contrast to last Friday’s 727.88 points.

Business Post reports that the share price of CSCS Plc increased by 5.7 per cent or 75 Kobo to settle at N14.00 per unit as against the preceding session’s value of N13.25 per unit. The stock was the only price mover as others retained their previous values.

Data from the opening session of the week revealed that there was a 24.9 per cent jump in the units of securities exchanged by investors on Monday to 767,614 units from 614,276 units.

However, the value of securities traded reduced by 25.7 per cent to N100.9 million from N135.75 million, while the number of deals went up by 800 per cent to nine deals from the single deal recorded last Friday.

AG Mortgage Bank Plc finished the trading session as the most traded stock by volume on a year-to-date basis with the sale of 2.3 billion units worth N1.2 billion, CSCS Plc also retained the second spot with the sale of 687.7 million units valued at N14.3 billion, and Mixta Real Estate Plc was in third place for trading 178.1 million units valued at N313.4 million.

In the same vein, CSCS Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 687.7 million units valued at N14.3 billion, VFD Group Plc was in second place with 29.1 million units worth N7.7 billion, and FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 14.5 million units valued at N1.7 billion.

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