CSCS Stocks Rise 3.57% in One Week at Unlisted Securities Market

CSCS AGM

By Adedapo Adesanya

Shares of Central Securities Clearing Systems (CSCS) Plc appreciated by 3.57 per cent or 50 kobo at the NASD Over-the-Counter (OTC) Securities Exchange last week.

The company was the only price gainer in the 5-day trading session, closing at N14.50 per share compared with the previous week’s closing price of N14 kobo per share. The company closed the week with a market capitalisation of N72.5 billion.

Also, CSCS ranked top among the four most traded securities by volume for the week as it cleared 35,771 units. FrieslandCampina WAMCO Nigeria Plc came next with 24,797 units, followed by Afriland Properties Plc with 8,605 units while Niger Delta Exploration and Production (NDEP) Plc was the fourth most traded stock by volume in week 36, with 6,116 units on record.

In terms of the value of trades, FrieslandCampina WAMCO Nigeria Plc ranked top among the top four with N3.13 million while NDEP Plc came next with N1.8 million. CSCS Plc stood as the third most traded security by value for the week, raking in N500,130 while Afriland Properties Plc posted N14,284.

Data from the NASD Exchange showed that there was a single price decliner last week and this was Afriland Properties Plc, which currently holds a market capitalisation of N2.28 billion. The share price went down by 9.78 per cent or 18 kobo to close at N1.66 per share in contrast to N1.84 of the preceding week.

Business Post reports that during the week, the unlisted securities market appreciated by 0.43 per cent as the major performance indicators pointed north.

For example, the market capitalisation increased in week 36 by N2.25 billion to settle at N524.64 billion compared with N522.39 Billion it finished at week 35.

In the same vein, the unlisted securities index move up by 3.06 points to close the week at 714.21 points as against 711.15 points it ended a week earlier.

Also, there was a 2.41 per cent increase in the total value of shares transacted by market participants in the week as investors traded a total of N5.5 million shares compared with the previous week’s N5.4 million securities.

However, the volume of stocks traded dropped 70 per cent week-on-week to 75,289 units from 250,096 units achieved in the previous week.

There was equally a drop in the number of deals concluded throughout the week. A total of 21 deals were executed in contrast to the 23 deals of the previous week, indicating a decline of 8.7 per cent or two deals.

On a year-to-date basis, the NASD OTC Securities Exchange maintained its positive position, closing at 2.39 per cent. Also, the year-to-date transactions as at last week stood at 7,822,911,433 shares worth N10.73 billion in 10,666 deals.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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