AVERAGE daily share volume on the NASDAQ market has surpassed that of the New York Stock Exchange (NYSE) so far this year. Share volume for the first quarter averaged 317.4 million shares daily compared with the 1993 average daily volume of 263 million shares, an increase of 20.7 per cent. Share volume on the NYSE this year has averaged 312.4 million daily. NASDAQ share volume has topped the NYSE on 44 of 63 days or more than two out of every three tradings days. During the same period, NASDAQ dollar volume was US$411.6 billion, averaging $6.5 billion daily compared with the $5.3 billion daily average last year. This was an increase of 22.6 per cent over the same period last year. The first quarter saw a total of 120 initial public offerings (IPO) which raised about $3.84 billion. This compares with the first quarter of 1993 when 100 IPOs raised $2.75 billion. Secondary public listings (SPO) were also strong, with about $2.96 billion raised through 72 SPOs compared with 85 SPOs in 1993 which raised $2.8 billion. The NASDAQ Composite Index reached a record high of 803.93 on March 18 before settling at 743.46 on March 31, up 7.7 per cent from a year ago. The Dow Jones industrial average was up 5.8 per cent from a year ago. The best performing sector on NASDAQ was the electronics component, up six per cent, followed by instrumentation, up 5.3 per cent and apparel, up four per cent. The best performing index was computer marker, which was up 1.73 per cent, and transportation, which gained 0.66 per cent. A total 115 companies have been added to NASDAQ during the first quarter to 3,357 firms now trading on the NASDAQ National Market. Combined trading of American Depositary Receipts (ADR) and foreign shares reached 1.4 billion shares amounting to $25.8 billion. This represents an increase of 75.2 per cent in share volume and 122.4 per cent in dollar terms. Total market capitalisation of all issues listed on NASDAQ is $764.2 billion as of March 31. This figure is a downward revision of about $15 billion from the 1993 year-end market capiltalisation. The new figure is a correction of a computation error in previous market capitalisation totals.