CSCS Lifts Unlisted Stocks by 0.10% at Midweek Session

By Adedapo Adesanya

The performance of the NASD Over-the-Counter (OTC) Securities Exchange was bullish on Wednesday as the market recovered some of its previous day’s loss.

During the trading session, the unlisted securities market recorded a 0.10 per cent appreciation and this was because of a positive movement in the price of one of the bellwethers of the space.

This was from the Central Securities Clearing Systems (CSCS) Plc, which appreciated by 0.63 per cent or 10 kobo to end the session at N16 per share in contrast to N15.90 per share it previously traded.

As a result of this, the key parameters: market capitalisation and the NASD Unlisted Securities Index (NSI) recorded growths at the close of transactions.

The market capitalisation increased by N500 million to N522.45 billion compared to N521.95 billion it quoted at the preceding day, while the NSI followed suit in the positive territory as it grew by 0.7 points to close at 728.14 points as against 727.44 points it finished on Tuesday.

The market performance as regards the activity level showed that the volume of shares transacted at the exchange further went up to 776,250 units from 583,435 units recorded at Tuesday’s session, signifying an increase of 33.1 per cent.

However, the total value of shares recorded declined as the worth of shares transacted plummeted by 72.7 per cent to N21.9 million from N80.2 million.

Amid this, the exchange recorded a total of eight deals, five deals or 38.56 per cent lesser than the 13 deals executed at the previous session.

These deals were made on CSCS Plc (three deals), VFD Group Plc (two deals), while FrieslandCampina WAMCO Nigeria Plc, Industrial And General Insurance (IGI) Plc and UBN Properties Plc all made one deal apiece.

UBN Property Plc, with 15.1 million units of shares traded for N16.3 million closed the day as the most active stock by volume (year-to-date). FrieslandCampina WAMCO Nigeria Plc, with a total of 651,635 units worth N80.7 million, was behind as CSCS Plc occupied the third spot with 396,190 units valued for N6.3 million.

On the other hand, Niger Delta Exploration and Production (NDEP) Plc retained the top spot in terms of value (year-to-date) with 246,650 units worth N86.1 million. FrieslandCampina WAMCO Nigeria Plc came next with 651,635 units going for N80.7 million, while VFD Group Plc has traded 199,094 units for N20.9 million.