Unlisted Stock Exchange Records 0.50% Loss as CSCS Shares Drop

February 11, 2023
Regconnect CSCS

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.50 per cent on February 10, as the shares of Central Securities Clearing System (CSCS) Plc went down by 95 Kobo or 7.04 per cent to settle at N12.55 per unit, in contrast to the previous day’s N13.50 per unit.

This overshadowed the 1 Kobo or 0.99 per cent growth recorded by Geo-Fluids Plc, which closed at N1.02 per share versus Thursday’s N1.01 per share.

As a result, the value of the unlisted stock exchange depreciated by N4.71 billion to N927.21 billion from N931.92 billion, as the NASD Unlisted Securities Index (NSI) went down by 3.58 points to wrap the session at 705.64 points compared with 709.22 points recorded in the previous session.

Amid the drop in the major market barometers, the unlisted securities bourse also reported drops in the level of transactions as the trading volume, value, and deals dropped at the close of business.

The volume of transacted stocks decreased by 64.7 per cent to 583,341 units from the 1.7 million units traded in the preceding session, while the value of shares traded went down by 67.1 per cent to N1.7 million from N5.2 million.

The number of deals dropped to seven deals, in comparison to nine deals published on Thursday. This showed that the number of deals slid by 22.2 per cent.

Geo-Fluids finished the day as the most traded stock by volume on a year-to-date basis with 323.2 million units worth N319.2 million, UBN Property Plc stood in second place with 36.3 million units valued at N26.1 million, while NASD Plc was in third place with 3.0 million units valued at N36.6 million.

Geo-Fluids Plc also maintained its position as the most active stock by value on a year-to-date basis, with 323.2 million units sold for N319.2 million, Frieslandcampina Wamco Nigeria Plc was in second place with 2.5 million units valued at N160.0 million, while VFD Group Plc was in third place for trading 561,810 units valued at N137.0 million.

Adedapo Adesanya

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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