NDEP, CSCS Spur NASD Exchange to 1.35% Growth
By Adedapo Adesanya
The NASD-over-the-Counter (OTC) Securities Exchange recovered more than the loss it previously recorded on Wednesday to close bullish on Thursday.
At the Wednesday session, the unlisted securities market shed 1.14 percent, but yesterday, the market grew by 1.35 percent.
This was spurred by the Central Securities Clearing Systems (CSCS) Plc and Niger Delta Exploration and Production (NDEP) Plc, which put up good performances at the session.
CSCS Plc saw its share price rise by 35 kobo at the bourse to sell at N13.90 per share compared with N13.55 per share it was sold previously.
On its part, NDEP Plc, which dropped as much as N25.79 kobo on Wednesday, recovered N21.79 to close yesterday at N300 per share in contrast to N278.21 per share of the preceding day.
The gains recorded by these bellwethers lifted the market capitalisation by N6.83 billion to N510.60 billion from N503.77 billion.
It further assisted the NASD Unlisted Security Index (NSI) to move forward by 9.29 points to 695.10 points from 685.81 points recorded at the previous session.
The total volume of securities transacted by investors at the session decreased by 29 percent to 89,547 units from 129,021 units.
These stocks were traded in 10 deals, higher than the five deals of Wednesday.
A breakdown showed that FrieslandCampina WAMCO Nigeria Plc accounted for four deals, NDEP Plc and CSCS Plc accounted for two deals each, while Air Liquide Plc and Afriland Properties Plc accounted for one deal each.
The trading value for Thursday, according to data from the exchange, reduced by 86 percent as shares worth N4.7 million exchanged hands compared with the previous day’s N33.1 million.
ARM Life Plc closed the session as the company with the highest number of traded shares (year-to-date) with 7.4 billion units sold for N4.6 billion. CSCS Plc was in second place with 195.6 million units worth N2.6 billion, while Food Concept Plc held the third position with 110 million units of its shares worth N77 million.
The most traded stock by value (year-to-date) as at yesterday was still ARM Life Plc, which has traded 7.4 billion units of its securities for N4.6 billion. CSCS Plc followed with 195.6 million units exchanged for N2.6 billion, while NDEP Plc was in third place with 7.3 million units of its securities valued at N2.3 billion.