CSCS, NASD Lift OTC Exchange by 0.17%

By Adedapo Adesanya

Central Securities Clearing Systems (CSCS) Plc and NASD Plc extended the bullishness of the NASD Over-the-Counter (OTC) Securities Exchange into the second day as it closed 0.17 per cent higher on Tuesday, November 9.

The performance in the stock prices of these companies increased the market capitalisation of the OTC exchange by N1.05 million to N621.84 billion from N620.79 billion it quoted on Monday.

This movement was also seen at the NASD Unlisted Security Index (NSI), which added 1.27 basis points to end the day at 752.67 points as against 751.40 points it recorded at the previous session.

Yesterday, the price of CSCS Plc appreciated by N1.90 or 9.1 per cent to sell at N21.00 per unit compared to N19.10 per unit at the preceding day.

NASD Plc, on its part, improved by 4 kobo or 0.2 per cent to sell at N17.04 per share in contrast to N17.00 per share it was traded a day earlier.

The bullish trend continued on the activity chart as the volume of stocks recorded at the bourse increased by 1,493.7 per cent to 725,984 units from Monday’s 45,554 units, while the value of trades rose by 817.8 per cent to N15.0 million from N1.6 million, with the number of deals increasing by 142.9 per cent to 17 deals from seven deals.

Food Concepts Plc, at the close of business, was still the most transacted stock by volume on a year-to-date basis with 11.4 billion units of its shares worth N14.4 billion. Lighthouse Financial Services Plc traded 1.1 billion units valued at N546.2 million, while Geo Fluids Plc transacted 1.0 billion units worth N700.1 million.

Also, in terms of the most traded stock by value (year-to-date), Food Concepts Plc maintained its position on the top for trading 11.4 billion units worth N14.4 billion, followed by the now-exited Nigerian Exchange (NGX) Group Plc with the sale of 456.5 million units valued at N9.2 billion, and VFD Group Plc, which has traded 10.4 million units for N3.5 billion.