NASD OTC Hits N1.05 Trillion, Return Spikes
Due to a bullish run in the market, the NASD over-the-counter (OTC) exchange for trading unlisted companies’ shares expanded to N1.05 trillion in the just concluded week. Following positive price movements, the OTC market year to date return spiked to 7%.
Buying interest in unlisted companies stock traded over the OTC exchange spanning five trading sessions lift the market performance. Consequently, the OTC securities exchange closed on a positive note year to date as the market performance improved.
Market data shows that NASD security index year-to-date returns increased by 7.00% as total volume traded year-to-date settled at 3,152,960,503 units in 1,193 deals. Meanwhile, the surge in the volume of transactions also lifted the total value to ₦20,499,347,062.51 on Friday’s close.
NASD OTC securities exchange index (NSI) closed the week with a positive movement on the NSI. Traders noted that the NSI return increased by 0.22% to close the week at 794.83 points against 793.05 on Friday, May 20, 2022.
This week’s data shows that Investors trading at NASD OTC gained ₦0.01 trillion. This lifted market capitalisation to ₦1.05 trillion compared to ₦1.04 Trillion in the prior week, due to positive movement in prices.
Also, NASD OTC admitted Cititrust Holdings Plc to trade shares on the exchange on Thursday.
It was noted that there was a 23.92% increase in the total value traded during the week, according to market data. NASD Investors trade a total of ₦98,835,399.00 in value compared to ₦79,754,591.00 in the previous week.
Overall, total trade activity for the year printed at ₦20,499,347,062.51. Total volume traded during the week settled lower at 8,018,365 units compared to 29,989,044 units in the previous week. READ: NASD OTC Ends Positive, Investors Record Large Gain
This translate to a 73.26% decrease in trade volume compared to the previous week. Meanwhile, data shows that the total volume traded for the year now settled at 3,152,960,503 units. Food Concepts PLC ranking top among the five most traded securities by volume and NIPCO PLC was the fifth most traded stock by volume traded in the week.
NASD PLC ranking top among the five most traded securities by value and NIPCO PLC stood as the fifth most traded Security by value for the week. NASD which currently holds a market capitalisation of ₦6.21 billion closed the week at ₦14.00 representing a 2.04 per cent increase from the previous close of ₦13.72
Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalisation of ₦214.79 billion closed the week at ₦110.00 representing a 0.92 per cent increase from the previous close of ₦109.00.
Central Securities Clearing System PLC, which currently holds a market capitalisation of ₦85.00 billion closed the week at ₦17.00 representing a 0.29 per cent increase from the previous close of ₦16.95. NASD OTC Exchange experienced a positing outing with no record of decliner. # NASD OTC Hits N1.05 Trillion, Return Spikes