CSCS Lift Unlisted Securities Market by 0.67%
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded its first gain of the week on Thursday, appreciating by 0.67 per cent.
The lift witnessed at the unlisted securities market in Nigeria was influenced by the Central Securities Clearing Systems (CSCS) Plc as a result of the rise in its equity price.
The securities depository company, which ended as the sole advancer yesterday, increased its share value by 70 kobo to close at N14.50 per unit as against the previous closing price of N13.80 per unit.
The growth helped that total value of equities on the exchange to increase by 0.67 per cent or N3.5 million to settle at N524.64 billion in contrast to N521.14 billion it finished at the previous session.
Data from the exchange showed that the benchmark performance indicator, the NASD Unlisted Security Index (NSI), expanded during the session by 0.67 per cent or 4.76 points to 714.21 points from 709.45 points.
On the activity chart, the total volume of securities traded by investors on the fourth trading day of the week increased by 626.8 per cent to 11,890 units from 1,636 units of securities traded at the previous session.
These transactions came from three deals executed at the exchange on CSCS Plc (two deals) and FrieslandCampina WAMCO Nigeria Plc (one deal).
Business Post reports that all the shares traded yesterday amounted to N518,447, 5.6 per cent higher than the N490,800 traded at the previous session.
Underwriting firm, ARM Life Plc, closed the session as the most traded stocks by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion.
CSCS Plc was in second place with 201.1 million units worth N2.7 billion, while Food Concept Plc held the third position with 125.1 million units of its shares worth N88.1 million.
Equally, ARM Life Plc also ended the day as the most traded stock by value (year-to-date) with 7.4 billion units valued at N4.6 billion, while Niger Delta Exploration and Production (NDEP) Plc traded 8.8 million units worth N2.7 billion, with CSCS Plc trading 201.1 million units valued at N2.7 billion.