NASD, CSCS Grow Unlisted Securities Market by 0.07%

By Adedapo Adesanya

Two heavyweights, NASD Plc and Central Securities Clearing Systems (CSCS) Plc, welcomed the bull to the NASD Over-the-Counter (OTC) Securities Exchange with a 0.07 per cent climb on Monday, February 14.

At the close of business yesterday, the market capitalisation of the OTC bourse went up by N450 million to N636.74 billion from N636.29 billion, while the NASD Unlisted Securities Index (NSI) increased by 0.53 points to wrap the session at 751.96 points compared with 751.43 points recorded at the previous session.

During the session, the stock price of NASD Plc rose by 45 kobo as it closed at N8.88 per share versus the last session’s N8.43 per share, while CSCS Plc appreciated by 5 kobo to finish the opening session at N18.25 per unit in contrast to the previous closing price of N18.20 per unit.

A look at the level of activity showed that the volume of shares transacted by investors at the unlisted securities market went up by 2,516.9 per cent to 1.7 million units from the 65,689 units traded at the preceding session.

Also, the value of shares surged by 142.7 per cent to N9.0 million from the preceding session’s N3.7 million while the number of deals increased by 27.3 per cent to 14 deals from 11 deals of the preceding session.

At the close of transactions, CSCS Plc remained as the most traded stock by volume on a year-to-day basis with a turnover of 654.5 million units of its shares worth N13.7 billion. NASD Plc traded 4.1 million units worth N59.6 million to occupy the second spot, while Food Concepts Plc, which claimed the third place, has traded 3.0 million units worth N2.4 million.

By value on a year-to-date basis, CSCS Plc was also on top of the chart with the sale of 654.5 million units worth N13.7 billion, followed by VFD Plc with 916,161 units valued at N331.5 million, and Friesland Campina WAMCO Plc with 1.9 million units valued at N243.7 million.