NASD OTC Expands to N972 Billion as Investors Gain
The NASD over-the-counter (OTC) exchange expands to about N972 billion in the just concluded week as investors recorded gains on transactions conducted on unlisted companies’ shares.
According to detail from the OTC platform, NASD investors gain ₦18.9 billion in the week, thus lifting market capitalisation to ₦971.52 billion from ₦952.62 billion in the previous week.
The surge came following a strong movement in prices attached to the rising demand for unlisted stocks in the OTC market in the last five trading sessions. READ: NASD Nears N1trn as Access Bank Goes to OTC Exchange
Data shows that NASD OTC Securities Exchange Index closed the week with a positive movement on the NSI. The NSI return increased by 1.98% to close the week at 738.87 points against 724.49 brought forward from the prior week.
There was a 362.21% increase in the total value traded during the week, according to trading records obtained from the market.
Investors traded a total of ₦222,918,883.93 in value compared to ₦48,228,851.46 in the previous week. Total trade activity for the year is valued at ₦16,526,924,782.06 as of Friday.
Meanwhile, market report shows that the total volume of unlisted stock traded during the week printed at 4,179,859 units compared to 7,357,225 units in the previous week. This translates to a 43.19% decrease in trade volume week on week while total volume traded for the year inched up to 3,008,755,141 units.
The week closed with Central Securities Clearing System PLC ranking top among the five most traded securities by volume and Industrial and General Insurance PLC as the fifth most traded stock by volume traded in the week.
Friesland Campina Wamco Nigeria PLC ranking top among the five most traded securities by value and 11 PLC stood as the fifth most traded Security by value for the week.
NASD PLC, which currently holds a market capitalisation of ₦6.44 billion closed the week at ₦14.50 representing a 20.83 per cent increase from the previous close of ₦12.00
Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalisation of ₦147.28 billion closed the week at ₦150.85 representing a 20.68 per cent increase from the previous close of ₦125.00
Central Securities Clearing System Plc, which currently holds a market capitalisation of ₦79.20 billion closed the week at ₦15.84 representing a 8.60 per cent decrease from the previous close of ₦17.33.
NASD OTC Securities Exchange Market closed on a negative note year to date as the market recorded a decrease in performance. Similarly, the NASD Security Index year-to-date returns decreased by 0.54%.
Total volume traded year-to-Date stands at 3,008,755,141 units in 642 deals and the total value traded printed at ₦16,526,924,782.06 on Friday, according to data from the OTC market.
