NASD over-the-counter (OTC) Securities Exchange Index rose after a more bearish outing record in 2023 as investors in unlisted securities recorded a sum of N8.72 billion as a gain over five trading sessions.
Consequent to the market shift to hunting for value, the over-the-counter market where unlisted stocks are traded closed the week with a positive movement.
According to the report, the NASD Securities Index (NSI) return increased by 0.94 per cent to close the week at 712.28 points against 705.64 seen in the comparable week.
Following the weekly gain, NASD OTC market capitalisation advanced to N935.93 billion from N927.21 billion on Friday, February 10 2023 due to positive movement in prices.
Brokers reported that there was a 175.74 per cent increase in the total value traded across the five days trading session in the OTC market. Last week, investors transacted a total of N83, 398,223.60 unlisted shares compared to N30, 971,043.10 in the previous week.
The total volume traded during this week was 94,582,133 units compared to 5,059,179 units in the previous week, translating to a 1,769.52 per cent increase in trade volume among 238 registered brokers and 152 participating institutions.
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VFD Group led the chart by a transaction value worth N1.272 billion. The company was followed by UBN Property with a total transaction value of N165 million, Friesland Campian WAMCO N21 million, Geo-Fluid Plc N12 million and CSCS N2 million.
UBN Property led by volume as the company’s transacted 191.73 million volume, Geo-Fluid 11 million, VFD group 5.65 million, Friesland Campina 320,000 and CSCS sold 120,000.
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