CSCS Plunges Unlisted Stock Market to 0.08% Loss

By Adedapo Adesanya

The first trading session of the new week at the NASD Over-the-Counter (OTC) Securities Exchange ended in negative terrain on Monday, March 15, 2021, with key parameters shedding 0.08 per cent.

The market capitalisation dropped N40 million at the close of transactions to settle at N502.42 billion compared with N502.82 billion it finished last Friday.

Following the same trend was the NASD Unlisted Security Index (NSI), which went down by 0.55 points to end at 700.23 points in contrast to 700.78 of the last trading session.

The day’s loss occurred on the back of the decline in the share price of Central Securities Clearing Systems (CSCS) Plc, which went down by 8 kobo or 0.53 per cent to trade at N15 per share compared with its previous selling price of N15.08 per share.

Business Post reports that there was no other price mover yesterday apart from CSCS.

Despite the bearish outcome recorded by the market on Monday, the volume of shares traded by investors increased by 31.6 per cent to 2.0 million units from the previous session’s 1.5 million units.

Also, the value of the transactions surged by 610.9 per cent to N30.3 million from N4.3 million worth of shares transacted at the preceding trading session.

However, the total number of deals dropped by 60 per cent as only two deals were executed compared to the five deals achieved last Friday.

These two deals reported at the session were shared by CSCS Plc and Niger Delta Exploration and Production (NDEP) Plc.

At the close of business, UBN Property Plc maintained its position as the company with the highest number of traded stocks (year to date) with 21.9 million units valued at N24.6 billion.

It was followed by CSCS Plc, which has transacted 7.0 million units worth N109.1 million, and FrieslandCampina WAMCO Nigeria Plc, which has exchanged 2.9 million units worth N362.0 million.

By value (year-to-date), Friesland was the most traded stock with 2.9 million units valued at N362.0 million. Niger Delta Exploration and Production (NDEP) Plc trailed with 666,749 units of its securities valued at N213.3 million, while CSCS Plc picked the third spot with 7.0 million units worth N109.1 million.