The NASD Over-the-Counter (OTC) securities market demonstrated robust health during the trading
session on September 3, 2026, closing on a decidedly positive note that underscored the growing
appeal of alternative asset classes among institutional and retail investors. The NASD Security
Index (NSI) advanced by 0.80% to close at 4,468.63 points, lifting the market’s year-to-date (YTD)
return to 26.10% from 25.10% in the preceding session, signaling steady long-term capital
appreciation in unlisted corporate equities.
In tandem with the index growth, total market capitalization expanded by 0.80% to close at N2.68
trillion. Trading activity presented a fascinating structural shift: while overall traded volume
experienced a contraction of 38.38% to settle at 716,755 units, and transaction value decreased by
57.58% to N44.01 million, deal execution velocity surged dramatically. A total of 69 trades were
executed during the session, representing a substantial 79.62% increase in trade count compared
to the previous trading day. This points to a highly fragmented yet active retail participation pattern in
unlisted securities.
On the performance board, Central Securities Clearing System (SDCSCSPLC) emerged as a star
performer, leading the advancers with a 6.25% price increase. Conversely, SDIGIPLC faced selling
pressure, finishing the session as the top decliner with an 8.00% pullback. Market observers note
that the resilience of the NASD OTC market reflects a broader diversification trend among Nigerian
investors seeking shelter from exchange-listed volatility while tapping into high-yield unlisted
corporate opportunities.
This alternative market vibrancy coincides with broader domestic macroeconomic indicators
pointing toward gradual stabilization. Real GDP growth for the current period stood at 3.89%,
moderating slightly from 4.07%, while headline inflation eased marginally to 15.91%. Furthermore,
the Central Bank of Nigeria’s adjustment of the Monetary Policy Rate (MPR) to 26.50% has created
a nuanced interest rate environment where fixed-income and alternative equity assets offer
attractive risk-adjusted returns for discerning portfolio managers.
As unlisted public companies continue to demonstrate operational strength and attractive dividend
yields, the NASD OTC market is increasingly positioning itself as a vital pillar of Nigeria’s capital
market ecosystem. Market analysts expect heightened activity in unlisted securities through the
remainder of 2026, driven by corporate restructuring, private equity interest, and investors searching
for diversified growth avenues outside the primary exchange.
