Economy
Nigerian Stock Exchange Sinks Further by 0.44% as Selloff Persists
By Dipo Olowookere
The continuous selloff across all sectors has left the Nigerian Stock Exchange (NSE) in the red territory again.
At the close of transactions on Friday, the local bourse ended 0.44 percent lower, driving the Year-to-Date (YtD) returns down to 5.83 percent.
In the absence of any positive news to drive the market upward, the All-Share Index (ASI) went down by 178.96 points to close at 40,472.45 points, while the market capitalisation reduced by N64.8 billion to finish at N14.660 trillion.
The volume of equities transacted at the market yesterday decreased by 17.39 percent, while the value depreciated by 32.90 percent.
A total of 350.6 million shares were traded on Friday in 3,973 deals valued at N5.1 billion compared with the 424.4 million equities sold on Thursday in 3,502 deals worth N7.6 billion.
These trades were mainly driven by the Financial Services sector, which led the activity chart with 287.7 million shares exchanged for N3.8 billion and the Consumer Goods, which followed with 29.9 million shares sold for N896 million.
A further breakdown showed that GTBank was the most traded stock, selling 62.9 million units worth N2.8 billion.
It was followed by Skye Bank, which traded 31.6 million equities valued at N23.8 million, and Fidelity Bank, which transacted 30.3 million shares worth N65.7 million.
Sovereign Trust Insurance traded 27.1 million shares for N7.1 million, while Access Bank sold 25 million equities valued at N272.9 million.
On the price movement chart, Total Nigeria topped the losers’ chart with N9.80k of its share value lost to close at N212 per share.
It was trailed by Mobil Oil Nigeria, which went down by N7 to close at N181 per share, and Dangote Cement, which depreciated by N3 to finish at N245 per share.
Unilever Nigeria reduced by N2.35k to end at N50 per share, while CCNN declined by N2.10k to settle at N24 per share.
On the flipside, it was a better day for Beta Glass, which appreciated by N4.15k to close at N87.35k per share.
It was followed by Stanbic IBTC, which rose by 95k to finish at N48.95k per share, and Oando, which increased by 70k to end at N8.25k per share.
UBA gained 35k yesterday to finish at N11.45k per share, while Fidson garnered 27k to settle at N5.76k per share.
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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