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CSCS, Nipco Lift Market for Unlisted Equities by 0.39%

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By Adedapo Adesanya

A tag team of Central Securities Clearing Systems (CSCS) Plc and Nipco Plc ensured that the bulls remained at the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday.

The two stocks lifted the market for unlisted equities yesterday by 0.39 per cent, expanding the market capitalisation of the bourse by N2.12 billion to N542.26 billion from N540.14 billion it finished on Monday.

Business Post reports that CSCS Plc gained 20 kobo or 1.43 per cent during the session to close at N14.20 per share in contrast to N14 per share it closed on Monday.

Also, Nipco Plc added N6 or 9.68 per cent to its share price to finish yesterday at N68 per unit as against the N62 per unit it settled the prior day.

The gains printed by these two companies on Tuesday helped to move the NASD Unlisted Security Index (NSI) forward by 2.86 points to end the day at 729.53 points as against 726.67 points it recorded at the previous session.

On the activity chart, the trading volume increased by 201.9 per cent to 2.2 million units from the previous day’s 743,852 units. Also, the trading value rose by 180.9 per cent to N147.5 million from N52.5 million, while the number of deals decreased by 50 per cent to three deals from six deals.

At the close of business, ARM Life Plc was the most active stock by volume (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion. CSCS Plc was in second place with 205.1 million units worth N2.7 billion, while Food Concepts Plc held the third position with 152.1 million units worth N109.4 million.

Equally, ARM Life Plc also remained the most traded stock by value (year-to-date) for transacting 7.4 billion units valued at N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc trailed with 11.8 million units of its securities valued at N3.6 billion, while CSCS has traded 205.1 million units worth N2.7 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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