NASD OTC Market Sustains Gains as CSCS Share Price Rises

By Adedapo Adesanya

The NASD Over the Counter Market ended the week on Friday, September 20, 2019 on a positive note as all parameters saw increases from the previous trading session.

Market capitalization rose marginally on Friday for the second consecutive day at the market, this time, going up by 0.51 percent or N2.55 billion to close at N505.91 billion from Thursday’s N503.36 billion.

The NASD Security Index (NSI) also moved up by 0.51 percent or 3.56 points from 700.63 points recorded on Thursday to close at 704.19 points on Friday.

The activity level also improved as the volume of traded securities recorded a significant rise of 592.28 percent or a difference of 85,881 units from the previous day’s low 14,500 units to 100,381 units.

Also sharing the positive outlook, value of transactions hit N6.4 million at the end of transactions N1.05 million, this means that value rose by N5.35 million amounting to a 510.47 percent rise.

More deals were executed on Friday than the previous trading day, as the market closed with 7 deals, 3 more higher than 4 deals executed on Thursday.

The top of trades position by volume (year to date) was held by Food Concept Plc with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

Central Securities Clearing System (CSCS) Plc retained top spot in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till yesterday, UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.

CSCS also saw its share prices increase on Friday as the company’s shares gained 51 kobo or 3.83 percent to close at N13.30 from N12.79.

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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