The NASD OTC Market ends the week with a decrease in market metrics, as the NASD USI decreased by 1.63%, closing at 664.38 points (as against 675.43 points last Friday). Consequently, total market capitalization shed 1.63% this week, closing lower at ₦449.61 billion compared to ₦457.08 billion last Friday.
The slump in the value of GDP at both conduits was largely responsible for the decline in indirect tax’s in Naira terms. Pinpointing to the limitation experienced by indirect tax’s whereby valuation to GDP slipped as the amount cave inwards. Even though price movement has been relatively favorable, seasonal and structural factors held it back.