Economy
Nigerian Stocks Lose N310b as Profit Taking Kicks in

By Modupe Gbadeyanka
Nigerian stocks suffered a glitch on Wednesday mainly influenced by the desire of investors to quickly take profit due to the recent new 52 week high of stocks quoted on the Nigerian Stock Exchange (NSE).
And at the close of trading activities on the floor of the NSE today, the stock market went down by 2.61 percent, breaking the five-day gaining streak.
Market breadth ended negative with a total of 37 equities depreciating in share price, while only 12 stocks appreciated.
Business Post reports that Nestle led the losers’ chart after losing N10 per share to close at N900 per share, while Dangote Cement shed N8.97k to finish at N205 per share.
Also, 7up declined by N2.99k to end at N90.1k per share, Lafarge slumped by N2.20k to close at N52 per share and Nigerian Breweries crashed by N2 to finish at N166 per share.
On the flip side, ConOil gained N1.92k to settle at N40.42k per share, while CAP Plc rose by 79k to end at N34.99k per share.
CCNN added 53k to finish at N11.27k per share, UACN progressed by 35k to end at N17.90k per share and NASCON appreciated by 20k to close at N10 per share.
A look at the market indicators showed that the All-Share Index (ASI) crashed by 897.71 points to end at 33,477.89 points, while the market capitalisation finished at N11.58 trillion after losing N310 billion.
Also, the YTD gain trimmed to 24.57 percent from 27.9 percent the previous day.
Like in the previous trading sessions, banking stocks were investors’ toast as Zenith Bank, Fidelity Bank, GTBank, Diamond Bank and UBA topped the most five active equities.
Zenith Bank traded 88 million shares for N1.9 billion, while Fidelity Bank exchanged 55.4 million units at N71.5 million.
GTBank transacted 50.3 million shares at N1.8 billion, Diamond Bank sold 45.6 million units worth N55.7 million and UBA traded 40.5 million valued at N336.9 million.
However, despite the loss at the market on Wednesday, the activity level closed higher with investors exchanging a total of 509 shares worth N6.4 billion in 5,876 deals compared with 392.3 million units traded yesterday in 5,412 deals valued at N4.2 billion.
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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