OTC Securities Exchange Shrinks 1.22%

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc overpowered the gains recorded by three other securities on the NASD Over-the-Counter (OTC) Securities Exchange on Friday, September 4, dragging the platform down by 1.22 per cent at the close of business.

The securities depository company lost N10.03 during the final trading day of the week to trade at N90.30 per share compared with the previous day’s N101.33 per share.

Consequently, it pulled down the market capitalisation by N32.78 billion to N2.649 trillion from the previous session’s N2.682 trillion, and compressed the NASD Security Index (NSI) by 54.61 points to 4,414.02 from 4,468.63 points.

Business Post reports that the price of 11 Plc went up yesterday by N16.90 to N272.25 per unit from N255.35 per unit, FrieslandCampina Wamco Nigeria Plc appreciated by N4.51 to N169.90 per share from N165.29 per share, and Afriland Properties Plc increased by N1.80 to N19.90 per unit from N18.10 per unit.

During the trading day, the volume of securities eased by 76.8 per cent after investors transacted 166,461 units compared with the previous session’s 716,755 units, the value of securities receded by 72.8 per cent to N11.9 million from the preceding day’s N44.0 million, and the number of deals declined by 66.7 per cent to 23 deals from 69 deals.

Great Nigeria Insurance (GNI) Plc finished the day as the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 81.3 million units transacted for N5.9 billion.

GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units traded for N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.