NASD OTC Expands To N972bn 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 N18.9 billion in the week, thus lifting market capitalisation to N971.52 billion from N952.62 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.

Data shows that NASD OTC Securities Exchange Index closed the week with a positive movement on the NSI. The NSI return increased by 1.98per cent to close the week at 738.87 points against 724.49 brought forward from the prior week.

There was a 362.21 per cent increase in the total value traded during the week, according to trading records obtained from the market.

Investors traded a total of N222,918,883.93 in value compared to N48,228,851.46 in the previous week. Total trade activity for the year is valued at N16,526,924,782.06 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 43.19per cent 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