CSCS Sinks NASD OTC Stocks by 0.37%

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.37 per cent on Monday, November 13.

This resulted in the shortening of investors’ wealth by N4.23 billion, leaving the market capitalisation of the bourse at N1.136 trillion compared with the previous session’s N1.140 trillion. In the same vein, the NASD Unlisted Security Index (NSI) lost 3.12 points to end the day at 838.08 points compared with last Friday’s 841.20 points.

CSCS Plc, the sole price loser, went down by 99 Kobo yesterday to settle at N20.01 per share versus last Friday’s closing value of N21.00 per share.

However, the price of 11 Plc increased during the session by N2.00 to finish at N135.00 per unit against N133.00 per unit it closed in the preceding trading day.

There was a slide in the volume of securities traded at the bourse, with 1.2 million units exchanging hands compared with last Friday’s 1.5 million, showing a decline of 23.0 per cent.

But the value of shares traded yesterday rose by 14.1 per cent to N8.0 million from the preceding day’s N7.0 million, while the number of deals remained unchanged at nine deals.

CSCS Plc remained the most traded stock by volume on a year-to-date basis with the sale of 1.2 billion units valued at N22.3 billion, UBN Property Plc was in second place with 1.1 billion units valued at N1.1 billion and Geo-Fluids Plc stood in third place with 701.9 units amounting to N1.3 billion.

Similarly, CSCS Plc was also the most traded stock by value on a year-to-date basis as it traded 1.2 billion units worth N22.3 billion, VFD Group followed with a turnover of 26.6 million units worth N5.9 billion, and \Aradel Holdings Plc was in third place with 7.7 million units valued at N3.1 billion.