CSCS Lifts Unlisted Securities Market by 0.24%

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc was the hero of the National Association of Securities Dealer (NASD) Over-the-Counter (OTC) Securities Exchange on Tuesday, May 24.

This was because the company lifted the unlisted securities market by 0.24 per cent yesterday after its stock price appreciated by N1.28 or 8.14 per cent to settle at N17.00 per share compared with the previous day’s price of N15.72 per share.

The performance of the stock outshone the loss printed by FrieslandCampina WAMCO Nigeria Plc as the value of the milk-producing company went down by N2.03 or 1.85 per cent to sell at N107.97 per unit versus N110.00 per unit of the prior day.

When the market closed for the session, the total value of securities on the OTC trading platform jumped by N2.43 billion to N1.04 trillion from N1.03 trillion.

Also, the NASD Unlisted Securities Index (NSI) went up by 1.86 points to wrap the session at 791.80 points compared with 789.94 points in the previous session.

Despite the gains, the trading activity was weak as there was a decrease in the volume of securities traded by 97.4 per cent to 98,607 units from 3.8 million units, the volume of trades similarly went down by 84.4 per cent to N9.9 million from N63.7 million, while the number of trades declined by 7.7 per cent to 12 deals from 13 deals.

AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis with a turnover of 2.3 billion units valued at N1.2 billion, CSCS Plc stood in second place with 662.2 million units valued at N13.9 billion, while Food Concepts Plc was in third place with 134.0 million units worth N115.0 million.

In terms of the most traded stock by value on a year-to-date basis, CSCS Plc remained on top with 662.2 million units traded for N13.9 billion, VFD Group Plc was in second place with 9.4 million units worth N2.9 billion, while AG Mortgage Plc was in third place with 2.3 billion units valued at N1.2 billion.