CSCS, NGX Return NASD Exchange to Bullish Zone

By Adedapo Adesanya

The week opened with the bull returning to the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Monday with a marginal 0.04 per cent rise.

The day’s favourable outcome came as two companies – Central Securities Clearing Systems (CSCS) Plc and Nigerian Exchange Group Plc – made gains.

As a result of the growth printed by the market bellwethers, the NASD unlisted security index (NSI) moved up by 0.30 points to 745.66 points from 745.36 points, while the market capitalisation of the NASD Exchange rose by N260 million to N648.11 billion from N647.852 billion.

Business Post reports that CSCS appreciated by 1.31 per cent or 22 kobo to settle ar N17.00 per unit compared with N16.78 per unit it traded at the preceding session, while NGX Group expanded by 0.12 per cent or 2 kobo to sell at N17.03 per share versus the previous session’s N17.01 per share.

However, Niger Delta Exploration and Production (NDEP) Plc landed on the losers’ chart yesterday after its price went down by 1.9 per cent or N4.9 to close at N255 per share in contrast to N259.85 per share it closed at the last session.

During the market on Monday, the trading volume improved by 641.1 per cent as a total of 1.9 million units of shares exchanged hands compared with 251,074 units transacted last Friday.

At the close of business, the trading value also surged by 913.6 per cent to N43.6 million from N4.3 million, while the number of deals increased by 33.3 per cent to 16 deals from 12 deals.

When the market closed for the day, Geo Fluids Plc kept its position as the most active stock by volume (year-to-date) for transacting 1.0 billion stocks for N700.1 million, NGX Group followed for selling 389.3 million units valued at N8.2 billion, while Food Concepts Plc has exchanged 294.5 million units worth N385.5 million.

In terms of value on a year-to-date basis, NGX Group was the most traded stock with the sale of 389.3 million securities for N8.2 billion, VFD Group Plc followed with 6.3 million securities worth N2.0 billion, while NDEP Plc has transacted 3.3 million units valued at N1.0 billion.