Economy
Nigerian Stock Market Further Falls by 1.30% Amid Panic Selling
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited witnessed panic selling from investors on Tuesday as the foreign exchange (FX) market continued to dampen mood.
The free fall of the exchange rate of the Naira to the Dollar in the currency market is making Naira-denominated investments unattractive and yesterday, it further inflicted a 1.30 per cent loss to the equity market.
It was observed that traders sold off some of their blue-chip equities, particularly in the financial and industrial goods sectors.
Business Post reports that the insurance index went down by 3.89 per cent, the industrial goods counter lost 3.62 per cent, the banking space shed 2.37 per cent, and the consumer goods counter depreciated by 0.87 per cent, while the energy sector appreciated by 0.21 per cent.
When trading activities ended for the day by 2:30 pm, the All-Share Index (ASI) crumbled by 1,332.56 points to close at 101,060.67 points versus the previous day’s 102,393.23 points, and the market capitalisation retreated by N729 billion to settle at N55.299 trillion compared with Monday’s closing value of N56.028 trillion.
Investor sentiment remained weak, according to analysis of the market data, as the bourse finished with 43 price losers and eight price gainers, representing a negative market breadth index.
Honeywell Flour suffered a 10.00 per cent loss to sell for N3.60, BUA Cement shed 9.98 per cent to N142.95, PZ Cussons declined by 9.75 per cent to N27.30, UPDC REIT crashed by 9.32 per cent to N5.35, and NEM Insurance slumped by 8.63 per cent to N6.35.
On the flip side, Juli gained 9.94 per cent to quote at N1.77, Eterna rose by 6.17 per cent to N17.20, Veritas Kapital advanced by 5.97 per cent to 71 Kobo, Geregu Power improved by 3.68 per cent to N985.00, and Tantalizers expanded by 2.63 per cent to 39 Kobo.
A total of 256.2 million shares valued at N6.6 billion were transacted at the exchange yesterday in 8,783 deals compared with the 273.9 million shares worth N7.4 billion traded in 9,688 deals in the preceding session, indicating a decline in the trading volume, value, and the number of deals by 6.46 per cent, 10.81 per cent, and 9.34 per cent, respectively.
Transcorp closed the day as the most active equity with the sale of 39.8 million units for N528.5 million, as UBA traded 26.0 million units valued at N624.5 million. Fidelity Bank exchanged 25.5 million shares worth N270.5 million, Zenith Bank sold 21.0 million equities for N750.5 million, and GTCO transacted 13.8 million stocks valued at N535.5 million.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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