Adedapo Adesanya
By Adedapo Adesanya
Equities extended their invitation to the bears for the second straight day at the NASD Over-the-Counter (OTC) Securities Exchange on Friday, September 11, declining by 0.27 per cent.
The slide can be attributed to another day of loss made by the Central Securities Clearing Systems (CSCS) Plc. The share price of CSCS reduced by 28 kobo or 2.02 per cent to trade at N13.57 per share compared to N13.85 per share it closed the day before.
This brought down the NASD Unlisted Securities Index (NSI) by 1.9 points yesterday to 712.54 points from 714.44 points of the prior session.
In the same pattern, the market capitalisation was trimmed by N1.4 billion to N523.41 billion from N524.81 billion it closed on Thursday.
During the session, stocks worth N1.7 million were exchanged at the bourse by investors, 4.9 per cent lower than the N1.8 million worth of securities exchanged at the preceding session.
There were four deals made at the week’s final trading session, 33.33 per cent or one deal higher than the three deals recorded at the unlisted securities market on Thursday.
Business Post observed that the four deals were executed on two companies; CSCS Plc with three deals and Niger Delta Exploration and Production (NDEP) Plc with one deal.
These transactions yesterday were done from 106,050 units of stocks bought and sold by market participants, 19.7 per cent lower than the previous session’s 132,000 units of shares.
At the close of business, ARM Life Plc remained as the firm with the most active stock (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. It was followed by CSCS Plc, which has traded 201.7 million units valued at N2.7 billion and Food Concept Plc, which has transacted 125.1 million units of its shares worth N88.1 million.
Equally, ARM Life Plc remained as the most traded stock by value (year-to-date) with 7.4 billion units of securities worth N4.6 billion, while NDEP Plc was in second place with 8.8 million units valued at N2.7 billion, with CSCS Plc trading 201.7 million units worth N2.7 billion.
