CSCS, NDEP Return NASD Exchange to N1trn Territory

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc and Niger Delta Exploration and Production (NDEP) Plc returned the NASD Over-the-Counter (OTC) Securities Exchange to the N1 trillion market capitalisation territory after a 0.57 per cent increase on Thursday, May 12.

At the market yesterday, the value of securities on the NASD exchange went up by N119.87 billion to N1.05 trillion from N928.73 billion, while the NASD Unlisted Securities Index (NSI) appreciated by 94.43 basis points to end the day at 800.76 points as against 706.33 points it recorded at the previous session.

The share price of CSCS Plc gained N1.17 or 1.2 per cent during the trading day to settle at N17.00 per unit compared to the previous day’s N15.83 per unit, while NDEP Plc gained 76 kobo or 0.4 per cent to close at N195.76 per share versus Wednesday’s closing price of N195.00 per share.

A total of 34,180 units of securities were transacted at the bourse yesterday, 99.9 per cent lower than the 25.3 million units of securities transacted by investors a day earlier.

Also, shares worth N4.5 million exchanged hands on Thursday, 87.5 per cent lower than the N35.8 million worth of unlisted stocks transacted on Wednesday by the market participants.

These trades, according to data obtained by Business Post, were carried out in four deals compared with the 16 deals executed a day earlier, representing a decline of 75 per cent.

Like the previous day, AG Mortgage Bank Plc finished as the most traded stock by volume on a year-to-date basis with 2.3 billion units worth N1.2 billion, followed by CSCS Plc with 661.6 million units worth N13.9 billion, and Food Concepts Plc with 94.0 million units valued at N77.8 million.

Also, CSCS Plc maintained its spot as the most active stock by value on a year-to-date basis with 661.6 million units worth N13.9 billion, AG Mortgage Bank Plc was in second place with 2.3 billion units valued at N1.2 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place for trading 8.3 million units for N1.1 billion.