NASD OTC Exchange Records 18.4% Rise in Q3 2018 Performance

October 8, 2018
NASD OTC market

By Modupe Gbadeyanka

Amidst a flurry of political activities and the much discussed economic malaise within Nigeria, the NASD (OTC) Securities Exchange has experienced an outstanding third quarter performance in the year 2018 compared with the previous years.

As at September 30, 2018, the total market capitalisation and Unlisted Securities Index (USI) stood at N480.88 billion and 710.60 points respectively.

This significantly surpassed the Q3 performances for 2017 and 2016 which recorded market capitalization of N406.08 billion and N411.28 billion respectively.

Business Post reports that a look at the year-on-year performance of the trading market of unlisted stocks in 2018 over 2017 showed an 18.42 percent growth.

In the year 2018, Q3 also recorded a 9 percent increase from Q2’s performance (market capitalisation at N441.02 billion and USI at 651.69 points).

A statement issued by NASD remains optimistic that as the year 2018 winds down, there is a sense of hopeful expectation in anticipation of Q4’s performance.

Regardless of approaching festivities, the economic and political climate, the NASD OTC could yet again pull off a remarkable performance in stark contrast to prevalent economic happenings and dour performances within other markets.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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