CSCS Lifts NASD OTC Exchange by 0.52% Thursday

By Adedapo Adesanya

Gains posted by Central Securities Clearing Systems (CSCS) Plc on Thursday ensured that the bulls remained on the floor of the NASD Over-the-Counter (OTC) Securities Exchange for the third straight session.

The Nigerian securities depository company recorded a 56 kobo or 3.1 per cent appreciation to sell at N18.56 per share compared to the N18 per share it traded the previous session

This increased the market capitalisation of the exchange by 0.52 per cent or N2.8 billion to N541.31 billion from N538.51 billion it ended on Wednesday.

Also, the NASD Unlisted Security Index (NSI) increased during the session by 0.52 per cent or 3.94 points to 761.55 points from 757.61 points of the previous session.

It was observed that for another trading session, the Nigerian Exchange (NGX) Group Plc further declined and this time by 5.5 per cent or N1.12 to settle at N19.37 per unit compared with the previous N20.49 per unit.

At the close of business, the volume of securities traded at the bourse reduced by 16.1 per cent to 3.4 million units from 4.1 million units.

However, the value of shares traded increased by 148.5 per cent to N69.3 million from N27.9 million, while the number of deals increased by 53.6 per cent to 43 deals from the preceding session’s 28 deals.

These deals were carried out by five companies with NGX Group accounting for 33 deals. CSCS Plc made five deals, FrieslandCampina WAMCO made three deals, while Niger Delta Exploration and Production (NDEP) Plc and UBN Property Plc recorded one deal each.

At the close of transactions, NGX Group remained as the most active stock by volume (year-to-date) for trading 246.5 million units for N5.6 billion. Swap Technologies & Telecomms Plc was in second place with 46.6 million units worth N41.0 million, while CSCS Plc held the third position with 29.1 million units worth N452 million.

Also, NGX Group was the most active stock by value (year-to-date) for trading 246.5 million units for N5.6 billion, followed by NDEP Plc with 2.8 million units worth N882.5 million and Friesland with 5.7 million units valued at N725 million.