The market capitalization of the NASD Over-the-Counter Securities Exchange increased by 4.27 percent on Wednesday, August 2, reaching a record high.
According to Business Post, the NASD OTC bourse’s value surged during the session by N45.88 billion to N1.120 trillion from N1.074 trillion the previous day as the NASD unlisted securities index increased by 33.17 points to 809.70 points from 776.53 points.
The rise in the share prices of Central Securities Clearing System Plc and Acorn Petroleum Plc served as the catalyst for the appreciation that the alternative stock market reported yesterday.
CSCS Plc increased by N1.40 to sell at N18.40 per unit as opposed to N17.00 per unit in the previous session, and Acorn Petroleum Plc increased by 1 Kobo to close at 22 Kobo per share as opposed to Tuesday’s 21 Kobo per share.
There was a decrease in the number of securities traded on the market, with investors exchanging 29,133 units of stocks as opposed to 2.1 million units the day before, a decrease of 98.6%.
Additionally, the value of shares exchanged yesterday plummeted by 99.3% to N392,923 from the N52.5 million realized on the previous trading day, and there were seven fewer transactions overall than on Tuesday’s 22 transactions, a decrease of 68.2%.
With 1.1 billion units valued at N21.2 billion, CSCS Plc ended the trading session as the most actively traded stock (year to date). Geo-Fluids was in second place with 631.0 units worth N1.1 billion, and Industrial and General Insurance Plc was third with 608.3 million units worth N48.1 million.
The most traded stock by value (year to date) was CSCS Plc, which sold 1.1 billion units worth N21.2 billion, followed by VFD Group (18.9 million units sold for N4.2 billion) and FrieslandCampico Wamco Nigeria Plc (18.3 million units sold for N1.3 billion).
