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CSCS, VFD Group Sustain Growth at NASD OTC Exchange

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its bullish run to six days as it mounted a 0.75 per cent gain following positive price movement from VFD Group Plc and Central Securities Clearing Systems (CSCS) Plc on Tuesday, April 13.

The run, which started after the Easter holidays last week, has seen the bull hold down the fort at the unlisted securities market, which has so far marked an impressive run this year.

One of the companies responsible for this is the proprietary investment company, VFD Group Plc, which has refused to release its foothold on the accelerator as it continued its impressive bullish run at the bourse.

On Tuesday, it further gained N32.90 or 10 per cent to close the session at N361.82 per share in contrast to N328.92 per share it traded on Monday.

Securities depository company, CSCS Plc, recorded a marginal gain of 25 kobo or 1.6 per cent to close at N16.25 per unit as against N16 per unit of the previous session.

The appreciation in both stocks improved the market capitalisation of the bourse by N4.04 billion to close the day at a new Year-to-Date (YTD) high of N543.53 billion from N539.49 billion.

Following the same trend, the NASD Unlisted Security Index (NSI) grew by 5.68 points to finish at 764.67 points in contrast to 758.99 points recorded at the previous session.

Business Post gathered that a total of 2.1 million units of shares were transacted at the NASD OTC market on Tuesday, 84.3 per cent higher than the 1.2 million units recorded on Tuesday.

These trades were made in four deals, 33.3 per cent lower than the six deals recorded on Monday.

The value of the transactions amounted to N21.5 million, 15.2 per cent lower than the N25.3 million achieved at the preceding session.

UBN Property Plc remained as the most active stock by volume (year-to-date) for trading 21.9 million units of its shares for N24.6 million. CSCS Plc was in second place with 8.9 million units worth N139.1 million, while FrieslandCampina WAMCO Nigeria Plc held the third position with 3.5 million units of its shares worth N435.4 million.

In terms of value, Niger Delta Exploration and Production (NDEP) Plc was the most traded stock on a year-to-date basis with 2.2 million units worth N694.4 million. Friesland trailed with its 3.5 million units for N435.4 million, while VFD Group Plc was in third place with 1.3 million units valued at N219.6 million.

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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