Adedapo Adesanya
By Adedapo Adesanya
The steady losses recorded by the Central Securities Clearing Systems (CSCS) Plc contributed to the negative outcome of the NASD Over-the-Counter Securities Exchange in the 37th week of trading in 2020.
During the week, both the NASD Unlisted Securities Index (NSI) and market capitalisation depreciated by 0.23 per cent as a result of the performance of CSCS, which is one of the market’s bellwethers.
The NSI fell by 1.67 points to close the week at 712.54 points compared with the previous week’s 714.21 points. In the same vein, the market capitalisation of the NASD declined by N1.23 billion to N523.41 billion from N524.64 billion it closed in week 36.
CSCS Plc was the single price decline for the week, closing at N13.57 per unit after it depreciated by 93 kobo or 6.41 per cent. In the previous week, the share price ended at N14.50 per unit.
It was observed that the equity price of the company declined at two different times in the week; Thursday and Friday after rising on Monday. On Tuesday and Wednesday, the price closed flat.
During the week, there was a 750.5 per cent rise in the volume of shares transacted by investors. A total of 640,345 units were exchanged compared to 75,289 units transacted in the preceding week.
Also, the total value of stocks traded by market participants increased by 309.3 per cent as N22.4 million worth of securities were traded compared to N5.5 million of the earlier week.
In the same vein, the total number of deals in the week increased by 95.2 per cent to 41 deals from the 21 deals achieved the preceding week.
Business Post reports that share price of FrieslandCampina WAMCO Nigeria improved by 2.88 per cent to close at N125 per share versus N121.50 per unit of the previous week.
Among the top five most traded securities by volume for the week, CSCS Plc ranked top with 574,500, while Firsttrust Mortgage Bank Plc was the fifth most traded stock by volume in week 37, 1,000 units.
By value, Niger Delta Exploration and Production (NDEP) Plc was the most traded stock at the close of the week, transacting N11.0 million, while the least was Food Concepts Plc, N1,075.
On a year-to-date level, the total volume traded for the year stood at 7,823,551,787 units while the value stood at N10.74 billion and the number of deals at 1,107.
