Economy
Nigerian Stocks Close 0.76% Lower on Sustained Selloff
By Dipo Olowookere
Profit-taking activities persisted on the trading floor of the Nigerian Stock Exchange (NSE) last Friday, leaving the market to close 0.76 percent lower with the Year-to-Date (YtD) returns finishing at -1 percent.
Business Post reports that the All-Share Index (ASI) slipped to the 37,000 region after shedding 290.07 points to settle at 37,862.53 points, while the market capitalisation went down by N105 billion to finish at N13.716 trillion.
It was observed that the volume of equities transacted on the last trading day of last week declined by 38.38 percent, while the value shares exchanged depreciated by 65.16 percent.
A total of 167.2 million shares were bought and sold by investors in 3,847 deals worth N1.4 billion in contrast to the 271.4 million equities transacted in the previous session valued at N4.1 billion.
At the close of transactions, the Financial Services sector led the activity chart with 110.5 million shares exchanged for N741 million, while the Consumer Goods sector followed next with 32.4 million equities transacted for N297 million.
The shares of Fidelity Bank got the most attention of investors at the market, trading a total of 26.6 million units for N60.6 million.
It was followed by Honeywell Flour, which sold 19.4 million shares valued at N41.6 million, and United Capital, which exchanged 15.6 million equities worth N50 million.
FBN Holdings traded 10.6 million shares valued at N112.4 million, while NEM Insurance transacted 9.3 million equities for N27.9 million.
On the price movement chart, Dangote Cement emerged the heaviest price loser, going down by N5.30k to close at N225 per share.
It was trailed by Unilever, which declined by N2.25k to finish at N50.75k per share, and Forte Oil, which depreciated by N1.75k to settle at N34.05k per share.
Nigerian Breweries decreased by N1.50k to end at N110.50k per share, while Lafarge reduced by N1 to close at N39 per share.
Conversely, Okomu Oil topped the gainers’ chart after adding N4 to its share value to finish at N94.20k per share.
CCNN improved by 75 kobo to close at N24.75k per share, while GTBank grew by 65 kobo to settle at N40.70k per share.
Zenith Bank increased by 20 kobo to close at N25.90k per share, while NEM Insurance increased by 14 kobo to end at N3.04k per share.
By Adedapo Adesanya
Aradel Holdings Plc is set to commence production of Premium Motor Spirit (PMS) at its modular refinery in 2027, following the removal of fuel subsidies and the deregulation of the downstream petroleum market.
According to Aradel’s general manager of refinery, Mr Temitayo Ogunbanjo, the removal of government control over fuel prices had created an opportunity for the company to begin manufacturing petrol.
Speaking on the sidelines of a conference in Abuja, Mr Ogunbanjo told Bloomberg that the company’s 11,000 barrels-per-day modular refinery currently already produces kerosene, diesel, gas oil and naphtha.
He noted that the deregulation of the downstream petroleum market has now created a pathway for Aradel to commence gasoline production at its refinery.
He added that Aradel is also considering an expansion of the refinery, with the company assessing potential crude supply sources and export logistics as part of its plans.
The company’s integrated operations across crude oil production, refining and distribution have benefited from recent volatility in global oil markets triggered by the US-Iran war, he told the publication.
Mr Ogunbanjo also disclosed that Aradel is considering investments in aviation fuel production, as the product has emerged as an important export to the European market.
The planned petrol production is expected to further expand Aradel’s refining operations as Nigeria’s downstream petroleum sector adjusts to the post-subsidy regime and increased private-sector participation.
It could also mean competition for other dominant refiners and importers, particularly the 700,000 barrels per day Dangote Refinery. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that Dangote supplied 87.55 per cent of Nigeria’s petrol demand in May 2026.
By Adedapo Adesanya
The decline in the share price of Central Securities Clearing System (CSCS) Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.02 per cent on Wednesday, August 12.
The securities depository company suffered a N10.88 loss to close at N106.00 per unit compared with the previous day’s N116.88 per unit.
As a result, the market capitalisation, for the third time this week, closed lower, losing N28.04 billion to finish at N2.720 trillion compared with the N2.748 trillion it ended a day earlier. The NASD Security Index (NSI) dropped 46.71 points to end at 4,532.03 points versus Tuesday’s 4,578.74 points.
Yesterday, there was a price gainer, which was FrieslandCampina Wamco Nigeria Plc. Its price increased by N13.50 to N170.00 per share from N156.50 per share.
The level of activity for the session waned on Wednesday, with the volume of securities down by 89.8 per cent to 150,340 units from the previous session’s 1.5 million units. The value of securities slumped by 55.9 per cent to N18.7 million from N42.3 million, and the number of deals depreciated by 37.3 per cent to 32 deals from Tuesday’s 51 deals.
At the close of business, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units transacted for N6.5 billion, and CSCS Plc with 77.2 million units traded for N5.5 billion.
GNI Plc was also the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
By Adedapo Adesanya
Foreign exchange (FX) pressure eased on the Naira on Wednesday. August 12, at the Nigerian Autonomous Foreign Exchange Market (NAFEX). Its value appreciated against the United States Dollar by 0.17 per cent or N2.31 to close at N1,360.58/$1 compared with the previous day’s N1,364.89/$1.
The Nigerian Naira also improved its value against the Pound Sterling at midweek at the official FX market by N1.62 to quote at N1,840.99, in contrast to Tuesday’s rate of N1,842.61/£1. It gained N3.49 against the Euro during the session to settle at N1,572.01/€1 versus the preceding session’s N1,575.50/€1.
However, the Naira depreciated against the greenback yesterday at the GTBank forex counter by N3 to sell for N1,370/$1 compared with the previous day’s N1,367/$1, and at the parallel market, it maintained stability at N1,395/$1.
Data from the Central Bank of Nigeria (CBN) indicated that interbank FX turnover rose sharply by 481 per cent to $168.758 million from $29.060 million due to an increase in banks’ activities as intermediaries for their customers.
The apex bank data indicated that the number of deals at the interbank FX market surged to 190 from 47 the previous day.
As for the digital currency market, benchmarked tokens were more positive in line with the US inflation report that eased nerves but failed to spark a broad crypto rally.
Headline inflation rose 0.1 per cent on the month and 3.4 per cent on the year, with the core measure that strips out food and energy up 0.2 per cent and easing to 2.5 per cent.
July inflation matched forecasts, reinforcing expectations that the Federal Reserve can wait on further rate moves and prompting modest gains in gold, equities and some digital assets.
TRON (TRX) grew by 0.7 per cent to $0.3374, Binance Coin (BNB) jumped by 0.4 per cent to $612.84, Ethereum (ETH) rose by 0.3 per cent to $1,892.73, Solana (SOL) increased by 0.3 per cent to $76.37, and Bitcoin (BTC) added 0.2 per cent to sell at $63,768.51.
On the flip side, DOGE slipped by 1.6 per cent to $0.0705, Cardano (ADA) lost 1.1 per cent to end at $0.1844, and Ripple (XRP) declined by 0.7 per cent to $1.01, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
