NGX, CSCS Keep NASD Exchange in Bearish Territory

By Adedapo Adesanya

For the second straight trading session, the NASD Over-the-Counter (OTC) Securities Exchange closed in the bearish territory on Thursday, June 17.

The extension of the stay of the NASD Exchange in the danger zone was caused by the negative movement in the prices of two securities, the Nigerian Exchange (NGX) Group Plc and Central Securities Clearing Systems (CSCS) Plc.

The two cousins further depressed the market capitalisation of the bourse by 0.47 per cent or N2.5 billion to N527.90 billion from N530.40 billion of the previous session.

The duo also weakened the NASD Unlisted Security Index (NSI) by 0.47 per cent or 3.52 points yesterday to end the day at 742.67 points as against 746.19 points it recorded on Wednesday.

During the trading day, NGX Group lost 96 kobo or 4.9 per cent to close at N19.43 per unit as against N20.39 per unit it finished a day earlier, while CSCS Plc recorded a 50 kobo depreciation to sell at N17.50 per share compared to the previous N18 per share.

Business Post observed that the level of activity was low yesterday as the trading volume reduced by 82.3 per cent to 542,315 units from the 3.1 million units recorded at the preceding session.

Likewise, the trading value went by 85.3 per cent to N10.0 million from N67.9 million, while the number of deals declined by 34.3 per cent to 23 deals from 35 deals of the prior trading day.

The deals of yesterday were recorded on three companies, NGX Group (17 deals), CSCS Plc (four deals) and FrieslandCampina WAMCO Nigeria Plc (two deals).

As usual, NGX Group finished as the most active stock by volume (year-to-date) for trading 269.3 million units of its shares for N6.1 billion. Swap Technologies & Telecomms Plc was in second place with 46.6 million units worth N41.0 million, while CSCS Plc held the third position with 31. 4 million units of its shares worth N492.4 million.

Also, NGX Group was the most traded stock by value (year-to-date) for transacting 269.3 million shares for N6.1 billion. Niger Delta Exploration and Production (NDEP) Plc held tightly the second spot with 2.9 million units worth N900.5 million, while Friesland held the next spot with 5.9 million units valued at N750.6 million.