By Adedapo Adesanya
The unlisted stock exchange in Nigeria known as the NASD Over-the-Counter (OTC) Securities Exchange was pulled into bearish territory on opening day, Monday, July 18 by Central Securities Clearing System (CSCS) Plc.
The poor performance of the company at the platform weakened the nation’s alternative bourse by 0.10 per cent, causing the NASD Unlisted Securities Index (NSI) to drop 0.8 points to end the day at 771.28 points as against the 772.08 points it recorded in the previous session, while the market capitalisation depleted by N1.06 billion to N1.015 billion from N1.016 billion.
Business Post reports that the share price of CSCS Plc depreciated yesterday by 25 Kobo to close at N13.58 per unit in contrast to last Friday’s N13.83 per unit.
The loss soaked up the gains printed by Nipco Plc during the session. The value of the oil stock rose by N1 to wrap the session at N58.00 per share compared with the previous close of N57.00 per share.
However, the market witnessed a rise in the volume of securities by 69.2 per cent as investors exchanged 79,653 units of shares compared with the 47.081 units of shares transacted on the preceding trading day.
Likewise, the value of stocks transacted by investors appreciated by 20.3 per cent to N3.2 million from N2.7 million, while the number of deals grew by 27.3 per cent to 14 deals from 11 deals.
The most active stock by volume on a year-to-date basis was still AG Mortgage Bank Plc as it has sold 2.3 billion units valued at N1.2 billion, followed by CSCS Plc with 675.7 million units worth N14.1 billion and Food Concepts Plc with 146.5 million units valued at N127.2 million.
CSCS Plc was still the most active stock by value on a year-to-date basis with 675.7 million units worth N14.1 billion, trailed by VFD Group Plc with 11.1 million units valued at N3.3 billion, and FrieslandCampina WAMCO Nigeria Plc with 12.0 million units worth N1.5 billion.
Modupe Gbadeyanka