CSCS Lifts NASD OTC Bourse by 0.07% to Positive Territory

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc championed the return of the NASD Over-the-Counter (OTC) Securities Exchange into bullish territory as the exchange closed 0.07 per cent higher on Tuesday, March 29.

The performance in the stock price of the security depository company expanded the market capitalisation of the bourse by N660 million to N951.46 billion from the N950.80 billion it quoted at the previous session.

The bourse had recorded a significant swell at the previous session as Access Bank listed its securities on the platform following its foray into a holding company.

At the close of transactions, the NASD Unlisted Securities Index (NSI) added 0.49 basis points to end the day at 723.61 points as against the 723.12 points it recorded on Monday.

Business Post reports that CSCS Plc made a 23 kobo or 1.3 per cent appreciation to sell at N17.23 per unit compared to N17.00 per unit of the previous session.

However, there was a price decliner yesterday and this was Friesland Campina Wamco Nigeria Plc, which lost 50 kobo to end at N124.00 per share in contrast to the preceding session’s N124.50 per share.

A total of 62,000 units of securities were traded at the unlisted securities market on Tuesday, 98.2 per cent lower than the 3.5 million units of securities transacted by market participants a day earlier.

In the same pattern, there was a fall in the value of shares traded by 80.6 per cent to N4.4 million from N22.4 million, while the number of deals declined by 37.5 per cent to five deals from eight deals.

AG Mortgage Plc remained as the most traded stock by volume (year-to-date) with 2.3 billion units valued at N1.2 billion, followed by CSCS Plc with 658.8 million units valued at N13.8 billion and NASD Plc with 41.7 million units valued at N444.4 million.

But CSCS Plc retained its position as the most traded stock by value (year-to-date) with 658.8 million units exchanged at N13.8 billion, followed by AG Mortgage Plc with 2.3 billion units worth N1.2 billion, and NASD Plc with 41.7 million units valued at N444.4 million.