The NASD Over-the-Counter (OTC) Securities Exchange recorded a significant surge in trading activity last week, as 551.01 million shares worth N5.14 billion were exchanged in 133 deals. This marked a dramatic rise from the previous week’s 43.83 million shares valued at N237.04 million across 100 deals, signaling one of the most active trading periods in recent history for the exchange.
The Oil & Gas sector was the standout performer, contributing 81.37% of the total trading volume with 506.19 million shares valued at N4.18 billion traded in 21 deals. This strong showing reflects growing investor confidence in energy stocks and increased liquidity within the sector. The Consumer Goods sector followed, accounting for 15.77 million shares worth N638.94 million across 48 deals.
Remarkably, two companies — Air Liquide Plc and FrieslandCampina Wamco Nigeria Plc — dominated the week’s trades, contributing a combined 96.68% of the total volume traded. Their combined transaction value stood at N4.46 billion from just five deals, underscoring the concentrated nature of investor interest and activity during the period.
The bullish momentum also boosted market performance indicators. The NASD Share Index rose by 1.86%, closing at 3,248.00 points, while market capitalization increased from N1.87 trillion to N1.90 trillion. This reflects a growing appetite among both institutional and retail investors for unlisted securities.
Investor sentiment remained upbeat throughout the week, with seven companies recording price gains compared to three decliners. Market analysts suggest the strong performance could signal a broader trend of renewed interest in the OTC space, particularly in sectors with improving corporate earnings and strategic positioning. All eyes are now on whether the NASD can maintain this upward trajectory.
Source: The Sun