CSCS Leads Losers’ Chart as NASD Index Drops 0.11%

August 29, 2020
Regconnect CSCS

By Adedapo Adesanya

Unlisted securities contracted by 0.11 per cent at the final trading session of the week at the NASD Over-the-Counter (OTC) Securities Exchange on Friday, August 28.

The slip yesterday reduced the NASD Unlisted Securities Index (NSI) by 0.81 points to 711.15 points from 711.96 points and equally chopped the market capitalisation by N600 million to N522.39 billion from N522.99 billion recorded on Thursday.

The day’s drop can be attributed to loss made by the day’s single price mover, Central Securities Clearing Systems (CSCS) Plc, as its share price lost 12 kobo to close at N14 per share compared with the previous day’s N14.12 per share.

Stocks worth N646,719 were exchanged at the bourse yesterday, 58.9 per cent higher than the N407,000 exchanged at the preceding session, while there were four deals made on Friday, which were executed on two companies. FrieslandCampina WAMCO Nigeria Plc (three deals) and CSCS Plc (one deal).

A total of 13,817 units of securities were recorded from these transactions, 34.2 per cent lower than the 21,000 units of securities transacted at the previous session.

Furthermore, on the same activity chart, ARM Life Plc closed the session as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc followed with 201 million units valued at N2.7 billion, while Food Concept Plc came in third with 125.1 million units of its shares worth N88.1 million.

Equally, ARM Life Plc also remained as the most active stock by value (year-to-date), trading 7.4 billion units worth N4.6 billion, while NDEP Plc followed after exchanging 8.8 million units valued at N2.7 billion, with CSCS Plc selling 201 million units worth N2.7 billion to occupy the third spot.

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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