CSCS Lands Unlisted Securities Market into Danger Zone by 0.10%

By Adedapo Adesanya

It was a negative opening for the NASD Over-the-Counter (OTC) Securities Exchange on Monday, February 3, 2020 as key market parameters closed pointing south.

This decline was spurred by Central Securities Clearing System (CSCS) Plc, which recorded the only price movement at the market today and this movement was not positive.

Share price of the Nigerian central securities depository company suffered a loss of 10 kobo or 0.83 percent to settle at N12 per share against N12.10 per share it previously traded.

This contributed to the 0.10 percent decline printed by the unlisted securities market during the first trading day of this week as both the market capitalisation and NASD Unlisted Securities Index (NSI) closed in the danger zone. While the market cap went down by N500 million to N501.79 billion from N502.29 billion, the NSI fell by 1.10 points from 698.56 points to N697.86 points.

Also, the total volume of shares transacted by investors during the session plummeted by 94 percent or 501,429 units to 31,700 units from the 533,129 units traded at the previous trading session.

Similarly, the total value of stocks transacted by traders at the NASD Exchange fell by 94 percent equivalent to N29.2 million to N1.7 million from N30.9 million recorded last Friday, when the market last opened for trading activities.

However, the only market parameter that pointed north at the end of Monday’s session was the number of deals executed, as traders carried out 10 deals in the session in contrast to the nine deals that occurred last Friday, indicating a rise by 11 percent equivalent to one deal.

Niger Delta Exploration and Production (NDEP) retained its position as the most traded stock on NASD OTC market by value (year-to-date) with 647,105 units of its shares traded for N204.5 million, while FrieslandCampina Wamco Nigeria came second with 471,207 units exchanged  for N61.2 million, with the day’s only decliner, CSCS Plc, trading 3.1 million units of its securities valued at N36.4 million.

On the other hand, in terms of volume (year-to-date), ARM Life Plc closed on Monday on top of the chart with 29 million units of its shares worth N18.3 million exchanged at the bourse, while CSCS Plc came second with 3.1 million units worth N36.4 million, with UBN Property Company still in the third position with 764,715 units of its shares worth N1.2 million.