By Chinwendu Obienyi
The NASD Over-the-Counter (OTC) Securities Exchange witnessed a dramatic surge in market activity last week, with a total turnover of 551.01 million shares worth N5.14 billion exchanged in 133 deals, marking one of the strongest trading weeks in recent times.
This represents a remarkable jump compared to the previous week’s volume of 43.83 million shares valued at N237.04 million across 100 deals.
The Oil & Gas sector dominated trading, accounting for a substantial 81.37 per cent of total volume with 506.19 million shares worth N4.18 billion traded in 21 deals. The sector’s robust performance highlights growing investor confidence and increased liquidity in energy-related securities.
Trailing behind was the Consumer Goods sector, which saw 15.77 million shares valued at N638.94 million traded in 48 deals, indicating continued investor interest in Nigeria’s fast-moving consumer goods companies.
Market activity was largely driven by just two major securities — Air Liquide Plc and FrieslandCampina Wamco Nigeria Plc — which together contributed 96.68 per cent of the total volume traded, equivalent to 506.16 million shares worth N4.46 billion across five deals.
Their dominance underlines the concentrated nature of investor activity during the week.
The bullish trend extended to market performance indicators. The NASD Share Index advanced by 1.86 per cent, closing at 3,248.00 points, while the market capitalization climbed to N1.90 trillion, up from N1.87 trillion recorded the previous week. The increase reflects a renewed appetite for unlisted equities among institutional and retail investors.
Investor sentiment remained positive throughout the week, as seven companies posted price gains, compared to three decliners. The upward movement in prices signals market optimism and a potential rally in select OTC stocks.
Market analysts say the week’s performance could signal a broader trend of renewed interest in the OTC market, particularly in key sectors like Oil & Gas and Consumer Goods, which are benefiting from improved corporate earnings and strategic investor positioning.
With trading volume, value, and investor engagement rising sharply, stakeholders will be watching closely to see if the NASD can sustain this momentum in the coming weeks.