NASD Inches To N1.03trn On Positive Price Movements

The NASD over-the-counter (OTC) inched higher to N1.03 trillion at the end of the trading session last week due to positive price movements on unlisted companies’ shares.

Several unlisted companies’ shares trading on the over-the-counter market have been descending for weeks but there is a breather in the just concluded with price appreciations in Friesland Campina, Cititrust Holdings etc.

The latest data from the market for trading unlisted companies’ shares shows that investors gain N20 billion as the Securities Exchange Index closed with a positive movement, according to the latest trading session.

In relative terms, the NSI return increased by 2.10% last week to close at 783.05 points against 766.92 from the previous week. The positive momentum impacted the over-the-counter market valuation.

As of Friday, NASD OTC market capitalisation was bolstered to N1.03 trillion, rising from N1.01 trillion in the week due to positive movement in prices. There was a 62.27 per cent decrease in the total value traded as NASD OTC investors traded a total of N33,801,270 compared to N89,596,950.78 in the previous week.

Total trade activity for the year printed at N22,073,924,703.64 while the total volume traded last week was 873,608 units compared to 4,167,482 units in the previous week. This translates to a 79.04 per cent decrease in trade volume week on week while the total volume traded for the year settled at 3,237,343,934 units.

Central Securities Clearing System Plc ranking top among the five most traded securities by volume and Friesland Campina Wamco Nigeria PLC was the fifth most traded stock by volume traded in the week.