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NGX, CSCS Retain Bulls at NASD OTC Exchange

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By Adedapo Adesanya

The bulls remained on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Friday courtesy of the positive price movements by Nigerian Exchange (NGX) Group Plc and Central Securities Clearing Systems (CSCS) Plc.

For the fifth straight session, the stock price of NGX Group rose and this time by 6.1 per cent or N1.75 to close at N30.26 per share compared to N28.51 per share it closed on Thursday.

For CSCS Plc, it gained 10 kobo or 0.6 per cent to close the session at N16.75 per share in contrast to N16.65 per share it finished at the previous session.

The gains reported by the duo expanded the market capitalisation of the NASD OTC Exchange by 0.9 per cent or N500 million to close the day at N561.46 billion versus N560.96 billion of the earlier session.

Also, the NASD Unlisted Security Index (NSI) rose by 0.9 per cent or 0.7 points to wrap the closing session for the week and month at 789.89 points compared with 789.19 points of the previous session.

However, there was another drop in the volume of securities traded at the bourse yesterday by investors by 24.6 per cent as only 9.8 million units of stocks were transacted as against the 13.1 million units of stocks of the previous trading day.

Also, There was a decline in the value of shares traded yesterday by 20.6 per cent as securities worth N297.8 million exchanged hands versus Thursday’s N372.8 million.

In addition, the number of deals executed on Friday went down by 24.3 per cent as only 53 deals were carried out compared with the 70 deals recorded a day earlier.

NGX Group accounted for 48 deals, CSCS Plc accounted for two deals, same as Afriland Properties Plc, while the Niger Delta Exploration and Production (NDEP) Plc recorded one deal.

At the close transactions, NGX Group was the most active stock by volume (year-to-date) with the sale of 128.4 million units worth N2.9 billion. CSCS Plc was in second place with 25.6 million units worth N391.6 million, while UBN Property Plc held the third position with 21.9 million units of its shares worth N24.6 million.

In terms of the most traded stock by value (year-to-date), NGX Group also closed on top of the chart for trading 128.4 million units valued at N2.9 billion. It is followed by NDEP Plc with 2.3 million units valued at N704 million and FrieslandCampina WAMCO Plc with 4.2 million units valued at N524.6 million.

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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