The NASD Over-the-Counter (OTC) Securities Exchange sustained its positive momentum, recording gains for the fourth consecutive trading session as investor sentiment remained mildly upbeat in the unlisted securities market.
Market data showed that the NASD market appreciated by 0.21 per cent during the session, pushing the total market capitalisation up by N4.69 billion to close at N2.190 trillion, compared with N2.185 trillion recorded at the end of the previous trading day. In the same vein, the NASD Unlisted Security Index (NSI) added 7.83 points to settle at 3,660.87 points from its earlier position of 3,653.04 points, reflecting modest price appreciation across selected stocks.
Analysts monitoring activities on the NASD platform observed that trading interest was concentrated around five securities during the session. Out of these, three stocks closed in positive territory, while two recorded price declines, showing a mixed but generally optimistic outlook among investors in the unlisted equities market.
FrieslandCampina Wamco Nigeria Plc emerged as one of the top gainers, as its share price rose by N2.55 to close at N62.47 per share, up from N59.92 per share recorded in the previous session. Market watchers attributed the gain to sustained interest in fundamentally strong consumer goods companies with stable earnings profiles, especially those with strong brand presence and consistent dividend history in Nigeria’s fast-moving consumer goods sector.
Central Securities Clearing System (CSCS) Plc also recorded a price increase during the session. The stock appreciated by 48 kobo to close at N42.62 per unit, compared with N42.14 per unit previously. CSCS has continued to attract attention from investors due to its strategic role in Nigeria’s capital market infrastructure, as it provides clearing, settlement and asset depository services to the Nigerian Exchange and other market participants.
IPWA Plc completed the list of gainers, posting a marginal increase of 10 kobo to close at N1.12 per share, up from N1.02 per share at the close of midweek trading. Although trading in IPWA Plc remains relatively thin, analysts say price movements in the stock reflect selective bargain hunting by investors with long-term expectations.
On the losing side, Afriland Properties Plc recorded the biggest price decline during the session. The stock dropped by N1.81 to close at N16.30 per unit, compared with N18.11 per unit recorded in the previous trading session. The decline was attributed to profit-taking by investors following earlier gains, amid cautious sentiment in the real estate and property development segment of the market.
Geo-Fluids Plc also closed lower, shedding 6 kobo to finish at N6.82 per share, down from N6.88 per share. Despite the dip, Geo-Fluids remains one of the most actively traded stocks on the NASD platform, especially in terms of volume, reflecting steady investor interest in the oil services company.
However, trading activity during the session showed a notable slowdown when compared with the previous trading day. The total volume of shares traded dropped sharply by 74.0 per cent to 486,499 units, from 1.9 million units recorded earlier. Similarly, the total value of transactions declined by 70.9 per cent to N10.5 million, compared with N36.3 million previously. The number of deals executed also fell by 46.7 per cent to 24 deals, down from 45 deals recorded in the prior session.
Despite the lower trading volumes, year-to-date data showed that CSCS Plc remained the most active stock by value on the NASD exchange. As at the close of business, a total of 1.1 million units of CSCS shares had been traded, valued at N42.7 million. Geo-Fluids Plc followed, with 2.9 million units exchanged for a combined value of N20.3 million, while FrieslandCampina Wamco Nigeria Plc recorded year-to-date trades of 217,757 units valued at N13.1 million.
In terms of trading volume, Geo-Fluids Plc maintained its position as the most active stock on a year-to-date basis, with 2.9 million units traded, worth N20.3 million. Industrial and General Insurance (IGI) Plc came next with 2.9 million units traded, though valued at a much lower N1.9 million, reflecting its relatively lower share price. CSCS Plc ranked third by volume, with 1.1 million units exchanged, valued at N42.7 million.
Market analysts say the continued appreciation of the NASD OTC market highlights growing interest in unlisted securities, as investors look beyond the Nigerian Exchange for diversification opportunities. They also noted that sustained reforms in Nigeria’s capital market, increased transparency, and improved access to trading platforms could further deepen activity in the NASD market in the coming months.
