NASD OTC market capitalisation hits N538.12bn

Companies trading on NASD OTC Securities Exchange Market had cause to smile at the weekend as the exchange’s market capitalization, gained about N9.22 billion in value, from N528.90 billion recorded in the previous week to N538.12 billion at the close of trading session on Friday.
Furthermore, the index closed on a positive note year-to-date (ytd), gaining 5.02 per cent, as the market recorded an increase in performance. On a weekly basis, the NSI gained 1.74 per cent from 720.02 points in the prior week to 732.57 points.
The improved performance of the NSI over the week is partly attributable to the impressive performance of UBN Properties Plc, both in terms of trade volume and trade value.
There was an appreciation of the share price of Central Securities Clearing System (CSCS) Plc, which leaped by 9.63 per cent from N13.5 billion in the previous week to N14.8 billion.
In terms of Week-on-Week (W-o-W) basis, mixed results were recorded, as the total value traded declined by -75.99 per cent, from N108.40 million to N26.03 million in the period under review. However, trade volume appreciated by 275.69 per cent, from about 3,246,505 units to 12,196,894 units while on a ytd basis, 7,838,995,186 units have been traded so far for the year.
UBN Properties Plc led the chart with N12.6 million, in terms of the trade value for the week, followed by NIPCO Plc with N8.13 million, Niger Delta Exploration and Production Plc with N1.91 million, WAMCO Plc with approximately N1.80 million, and Food Concept with N1.35 million.
In terms of top traded securities by volume, UBN Properties Plc also led the chart, registering 10,000,000 units, followed by Food Concept Plc with 2,000,000 units. Also, in the top five position is NIPCO Plc with 125,091 units, while Afriland Plc recorded 23,650 units. Geo-Fluids Plc made it to the elite list with 15,000 units.