CSCS Tops Losers’ Chart as NASD Exchange Extends Losses

NASD OTC market

By Adedapo Adesanya 

The NASD Over-the-Counter (OTC) Securities Exchange further closed on Tuesday, October 22, 2019 on a bearish note as investors confidence continue to wane by the day.

During the trading session, the NASD Security Index (NSI) declined by 0.28 percent or 1.95 points to close at 691.63 points against the 693.58 points recorded at the previous session.

Similarly, the market capitalisation extended its losses at the trading day by N1.4 billion or 0.28 percent to settle at 496.89 billion against the N498.29 billion ended on Monday.

Following the same trend was the volume of trades, which dropped further by 45.4 percent or 8,742 units to finished yesterday at 10,534 units in contrast to 19,276 units on Monday.

Also, the total value of transactions on Tuesday went down by 80.03 percent or N1.6 million to N389,586 million from N1.95 million achieved at the previous trading session.

However, the only parameter that saw a positive movement on Tuesday was total number of deals executed by investors, which rose by 50 percent or two deals to close at 6 deals compared with 4 deals on Monday.

The only price loser on Tuesday was Central Securities Clearing System (CSCS) Plc as its share price went down by 28 Kobo to settle at N12.10 per share in contrast to N12.38 per share on Monday.

The company, however, in terms of value (year-to-date) remained at the top position with 202,272,698 units worth N2.53 billion transacted, while UBN Properties followed with 884,529,600 units of its stocks sold for N1.2 billion.

Meanwhile, Food Concept Plc remained at the top of trades by volume (year to date) chart with transactions of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

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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