CSCS Prompts 0.01% Gain at NASD OTC Bourse at Midweek

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.01 per cent marginal appreciation on the back of bullish price movement in Central Securities Clearing System (CSCS) Plc on Wednesday, October 26.

The company closed the day as the single price mover as it appreciated by one kobo to close the midweek session at N14.00 per unit compared with the previous closing price of N13.99 per unit.

This increased the market capitalisation of the NASD OTC bourse by N50 million to close at N951.16 billion compared with the preceding session’s N951.11 billion.

Similarly, the NASD Unlisted Securities Index (NSI) expanded during the session by 0.04 points to 722.54 points as against Tuesday’s closing figures of 722.50 points.

There was, however, a fall in the volume of securities traded at the penultimate session as investors exchanged 114,866 units, this was 57.8 per cent lower than the 272,000 units of securities traded in the preceding session.

Also, there was a slump in the value of shares traded yesterday by 60.1 per cent to N7.2 million from N19.1 million, while the number of deals increased by 133.3 per cent to seven deals from the three deals executed a day earlier.

At the close of business, AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis with 2.3 billion units valued at N1.2 billion, CSCS Plc stood in second place with 687.8 million units valued at N14.3 billion, while Mixta Real Estate Plc was in third place with 178.1 million units valued at N313.4 million.

In the same vein, CSCS Plc ended the trading session as the most active stock by value on a year-to-date basis with the sale of 687.8 million units valued at N14.3 billion, followed by VFD Group Plc with a turnover of 29.1 million units worth N7.7 billion, and FrieslandCampina WAMCO Nigeria Plc with the sale of 14.8 million units valued at N1.7 billion.