CSCS ‘Resurrects’ Unlisted Securities Market Thursday
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange returned to the green territory on Thursday, April 9, with a 0.49 percent growth.
This resurrection ahead of the Easter holidays was influenced by securities depository company, Central Securities Clearing Systems (CSCS) Plc, which appreciated for the third time this week.
CSCS stocks grew by 50 kobo at the Thursday’s session to N13 per share from N12.50 per share, closing as the market’s only gainer.
On Monday (April 6), the company’s share price gained 30 kobo to N12.48 and moved up by 2 kobo to N12.50 on Tuesday before trading flat on Wednesday.
The gains achieved by this stock on Thursday lifted the market capitalisation by N2.5 billion to N512.89 billion from N510.39 billion quoted at the midweek session.
It further helped the NASD Unlisted Security Index (NSI) to move up by 3.4 points to 698.22 points from 694.82 points recorded at the previous session.
Despite the growth posted by the unlisted securities market yesterday, the total volume of transactions fell as only 10,200 units were exchanged by investors, 97 percent lower than the 346,761 units recorded at the preceding session.
Following the same pattern was the total value of shares transacted at the bourse, which depreciated by 96 percent or N3.65 million to N154,000 from N3.8 million.
However, the number of deals was flat at two, executed by CSCS Plc and FrieslandCampina WAMCO Nigeria Plc. While the day’s advancer accounted for N130,000 of the total transaction value, Friesland accounted for N24,000.
Also, ARM Life Plc closed the session as the most active stock by volume (year-to-date), trading 7.4 million units of its shares worth N4.6 billion. Food Concept Plc was in second place with 110 million units worth N77 million, while Lighthouse Financial Services Plc held the third position after trading 47.7 million units of its shares worth N23.8 million.
ARM Life Plc also had the highest number of stocks traded by value (year-to-date) with 7.6 billion units valued at N4.6 billion, while Nigeria Delta Exploration and Production (NDEP) Plc followed for transacting 6.5 million units worth N2.03 billion, with FrieslandCampina in third place after exchanging 2.2 million units of its securities valued at N269.8 million.