Economy
26 Stocks Drag Nigerian Market Slightly Lower by 0.06%
By Dipo Olowookere
Trading at the local stock market started off on a bearish note on Monday with 26 equities recording various price declines.
Beta Glass topped the laggards’ chart at the close of transactions today with N7.80k of its share price lost to profit taking to close at N78 per share.
Following Beta Glass on the log was Okomu Oil, which went down by N2.90k to finish at N73.10k per share, and Nigerian Breweries, which depreciated by N2.10k to end at N100.90k per share.
Flour Mills declined today by N1.40k to finish at N24.60k per share, while Dangote Cement fell by N1 to settle at N228 per share.
Business Post reports that the market breadth ended negative as only 21 equities appreciated at the close of business on Monday.
The top gainers’ table was mounted by Lafarge after adding N2.50k to its share value to close at N30.50k per share.
This was followed by Ecobank, which rose by 90 kobo to finish at N22 per share, and United Bank for Africa (UBA), which improved by 25 kobo to end at N9.70k per share.
Oando gained 15 kobo to settle at N5.75k per share, while Forte Oil also appreciated by 15 kobo to finish at N23.55k per share.
It was observed that the mood at the Nigerian Stock Exchange (NSE) on Monday was mixed despite the loss recorded.
Business Post reports that investors were not too happy with the half year earnings of Zenith Bank released today.
The lender posted a sharp decline of over 15 percent in its gross earnings, but its profit appreciated by over 8 percent. The Tier-1 bank also declared an interim dividend of 33 kobo per share, which some said was enough to pacify shareholders.
At the close of transactions today, the stock market marginally closed 0.06 percent lower with the Year-to-Date (YtD) returns closing at -4.61 percent.
The All-Share Index (ASI), which closed at 36,499.67 points last Friday, depreciated on Monday by 20.25 points to settle at 36,479.42 points, while the market capitalization finished at N13.315 trillion after reducing by N7 billion.
A look at the sector performance showed that the NSEIND gained 2 percent, NSEINS10 rose by 1.03 percent, NSEBNK10 appreciated by 0.86 percent and NSEOILG5 increased by 0.42 percent.
However, the only sector that recorded a loss today was the Consumer Goods sector (NSEFBT10), which went down by 0.93 percent. This was mainly influenced by the losses recorded by two of the big boys in the arm, Nigerian Breweries and Flour Mills.
Business Post reports that the volume and value of shares transacted by investors on Monday depreciated by 31.57 percent and 52.21 percent respectively.
While the volume of share went down to 182.3 million from 266.4 million, the value declined to N2 billion from N4.3 billion.
The trades were dominated by financial stocks, which accounted for 126.6 million units worth N958 million, while the equities in the Healthcare sector followed with 14.5 million shares exchanged for N8 million.
United Bank for Africa topped the activity chart with a total of 21.7 million shares worth N208.1 million exchanging hands during the day’s trading.
It was followed by United Capital, which sold 20.4 million units valued at N58.3 million, and Regency Alliance Insurance, which transacted 16.9 million shares worth N4 million.
Access Bank traded 13.9 million equities for N138.7 million, while Union Diagnostic & Clinical Services exchanged 12.7 million shares valued at N4.6 million.
With the market recorded a slight loss today, investors would be hopeful that the bulls will resurface tomorrow.
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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