Adedapo Adesanya
By Adedapo Adesanya
The tag team of NASD Plc and Central Securities Clearing Systems (CSCS) Plc ensured that the bull remained on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, March 10.
According to data obtained by Business Post, the NASD OTC market appreciated by 0.05 per cent yesterday as a result of the gains posted by the duo.
Consequently, the market capitalisation of the exchange grew by N310 million to N621.25 billion from N620.94 billion, while the NASD Unlisted Securities Index (NSI) increased by 0.36 basis points to end the day at 733.66 points as against 733.30 points it recorded at the previous session.
NASD Plc made a 36 kobo or 3.8 per cent rise in value to settle at N9.50 per unit compared with the previous N9.14 per unit, while CSCS Plc gained 3 kobo or 0.2 per cent to sell at N18.40 per share compared to N18.37 per share of the preceding day.
On the activity chart, there was a rise in the volume of securities traded at the bourse as trading data showed that investors exchanged 4.5 million units at the unlisted securities market yesterday in contrast to the 946,875 units of securities transacted by market participants at the preceding session, indicating a 379.8 per cent rise.
However, there was a decline in the value of shares traded at the session by 5.8 per cent to N45.7 million from the N48.5 million achieved a day earlier, while the number of deals depreciated by 9.1 per cent to 10 deals from the preceding session’s 11 deals.
At the close of the market, CSCS Plc remained as the most traded security by volume (year-to-date) with 656.8 million units worth N13.9 billion. AG Mortgage Bank Plc came next with 32.0 million units valued at N16.7 million, while NASD Plc came in third place as it has so far traded 26.9 million units of stocks were valued at N263.1 million.
Also, CSCS closed as the most active stock by value (year-to-date) with the sale of 656.9 million units valued at N13.8 billion, VFD Group Plc trailed with 916,161 units worth N331.5 million, while FrieslandCampina WAMCO Nigeria Plc was in third place with 2.5 million units traded for N312.6 million.
