CSCS Lifts Over-the-Counter Stock Market by 0.88%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rebounded on Friday, December 18 after it appreciated by 0.88 per cent.

Business Post reports that the unlisted securities market was lifted yesterday by the same stock that brought it down the previous session, Central Securities Clearing Systems (CSCS) Plc.

Yesterday, CSCS put up a better performance and it helped the market capitalisation of the bourse to rise by N4.7 billion to close at N537.26 billion in contrast to the N532.57 billion it finished on Thursday.

Equally, it boosted the NASD Unlisted Security Index (NSI) of the exchange by 6.32 points to end the day at 722.82 points as against 716.50 points it finished at the previous session.

During the last trading session of the week, the share price of CSCS appreciated by 99 kobo to settle at N15 per unit compared with the previous day’s N14.01 per unit.

However, it was not a good day for FrieslandCampina WAMCO Nigeria Plc, which suffered a price depreciation during the trading session.

At the close of transactions, the equity price of the FMCG company went down by 26 kobo to N130 per unit from N130.26 per unit of the preceding day.

On the activity chart, the volume of securities traded by investors at the bourse on Friday decreased by 99.3 per cent to 33,500 units in contrast to the 5.0 million units of securities transacted on Thursday.

In the same vein, there was a 97.1 per cent drop in the value of shares traded by market participants yesterday; N2.1 million versus the N70.6 million recorded a day earlier.

These trades came from two deals executed on FrieslandCampina WAMCO Nigeria Plc and CSCS Plc. At the previous session, five deals were executed by investors, indicating a 60 per cent decline.

ARM Life Plc closed the session as the company to have traded the highest number of shares (year-to-date) with 7.4 billion units worth N4.6 billion. It was followed by CSCS, which has traded 213.7 million units worth N2.9 billion and Food Concepts Plc, which has transacted 152.2 million units worth N109.5 million.

Equally, ARM Life has been the most active stock by value on a year-to-date basis with the sale of 7.4 billion units of its securities valued at N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc trailed with 11.9 million units valued at N3.7 billion, while CSCS has exchanged 213.7 million units for N2.9 billion.