NASD Sheds 0.32% After CSCS Loses 57 Kobo
By Adedapo Adesanya
Trading activities on the floor of the NASD Over-the-Counter (OTC) Securities Exchange snapped a back-to-back gaining streak on Thursday, March 25 with a 0.32 per cent loss.
This was caused by the negative price movement in the shares of Central Securities Clearing Systems (CSCS) Plc. The Nigerian securities depository company lost 57 kobo or 3.7 per cent yesterday to close at N14.71 per share in contrast to N15.28 per share of the previous session.
This reduced the market capitalisation of the bourse by N1.67 billion to N514.48 billion from N516.15 billion and squeezed 2.35 points from the NASD Unlisted Securities Index (NSI), closing at 723.79 points from 726.14 points it closed on Wednesday.
Business Post gathered that the loss recorded by CSCS overpowered the gains posted by VFD Group Plc. The equity value of the proprietary investment company increased by 10 per cent or N13.95 to sell at N153.45 per share as against N139.50 per share of the earlier day.
On the activity chart, market participants traded 401,920 units of shares compared to 344,400 units recorded at the previous session, indicating a decline of 16.7 per cent.
These trades were made from six deals, 25 per cent lower than the eight deals recorded on Wednesday. Yesterday’s deals were executed on CSCS Plc (five deals) and VFD Group Plc (one deal).
The transactions around these companies improved the market’s total trades by 162.9 per cent to N47.5 million from N18.1 million of the previous day.
When the market closed for the day, UBN Property Plc remained 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 7.9 million units worth N122.7 million, while FrieslandCampina WAMCO Nigeria Plc held the third position with 2.9 million units of its shares worth N363.6 million.
In terms of the most active stock by value (year-to-date), Friesland was on top with 2.9 million units of its securities traded for N363.6 million. Niger Delta Exploration and Production (NDEP) Plc remained on the second spot with 698,587 units of its securities valued at N222.7 million, while CSCS Plc was on the third spot with 7.9 million units valued at N122.7 million.