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VFD, CSCS Gain as Unlisted Stocks Close 0.92% Higher

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By Adedapo Adesanya

The bullish run at the NASD Over the Counter (OTC) Securities Exchange extended to the seventh straight session as VFD Group Plc and Central Securities Clearing Systems (CSCS) Plc pushed the market higher by 0.92 per cent on Wednesday, March 31.

VFD Group Plc continued its rally as its stocks gained for the sixth out of the last seven sessions, closing at N204.24 per share after adding N18.57 or 10 per cent to its previous closing price of N185.67 per share.

On its part, CSCS Plc saw its share price rise by 65 kobo or 4.2 per cent to N15.35 per unit in contrast to the preceding day’s N16 per unit.

This spurred the key parameters, the NASD Unlisted Security Index (NSI) and the market capitalisation to appreciate with the latter gaining N4.82 billion to close at N530.98 billion compared to the prior N526.16 billion, while the former rose by 6.79 points to close the month at 747.01 points versus 740.22 points of the previous session.

There was, however, a drop in the total volume of shares transacted at the midweek session by 85.4 per cent to 50,005 units from 342,892 units realized at the previous trading session.

Also seeing a decline at the session was the total value of shares traded by investors, which tumbled by 94.8 per cent to N5.5 million from N106.5 million a day earlier.

In the same vein, the total number of deals also went south by 76.9 per cent as only three deals were executed compared to 13 deals at the previous session.

CSCS Plc, VFD Group Plc and Afriland Plc all recorded one deal each.

When trading activities were wrapped up for the day, UBN Property Plc was the most traded stocks by volume (year-to-date) with a total transaction of 21.9 million units valued at N24.6 billion. It was followed by CSCS, which has traded 8.2 million units worth N125.9 million, and FrieslandCampina WAMCO Nigeria Plc, which has exchanged 3.5 million units worth N430.3 million.

In terms of the most active stock by value (year-to-date), NDEP was on top for transacting 2.2 million units valued at N668.5 million. Friesland trailed with 3.5 units of its securities valued at N430.3 million, while VFD Group Plc was on the third spot for trading 1.0 million units worth N148.8 million.

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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