Economy
Conoil Leads Gainers’ Chart as Index Sustains Growth by 0.29%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited closed 0.29 per cent higher on Wednesday on the back of sustained bargain hunting in banking, industrial goods and energy stocks.
When the market ended for the day’s session, the banking index rose by 2.25 per cent, industrial goods appreciated by 0.39 per cent, energy gained 0.34 per cent, while the insurance and consumer goods counters depreciated by 1.28 per cent and 0.35 per cent respectively.
Business Post reports that the market breadth was slightly positive as a result of the 22 price gainers and 21 price losers recorded at the midweek session.
Conoil led the gainers’ chart after its share price rose by 9.97 per cent to N18.75 and was followed by Studio Press, which gained 9.88 per cent to sell for N1.78.
Eterna grew by 9.48 per cent to N6.35, University Press appreciated by 9.40 per cent to N1.28, while Lafarge Africa improved by 6.83 per cent to N21.90.
On the losers’ log, Guinness Nigeria occupied the first spot with a price depreciation of 9.89 per cent to settle at N28.70 and was trailed by Portland Paints, which lost 9.85 per cent to finish at N2.38.
Academy Press declined by 9.76 per cent to 37 kobo, Learn Africa went down by 8.26 per cent to N1.00, while Sovereign Trust Insurance depleted by 7.41 per cent to 25 kobo.
It was observed that during the session, investors traded 239.3 million stocks worth N1.7 billion in 3,746 deals compared with the 339.0 million equities worth N2.7 billion traded in 4,203 deals on Tuesday.
This showed that the trading volume, value and number of deals depreciated by 29.43 per cent, 38.48 per cent and 10.87 per cent respectively.
Access Bank ended the day as the most active stock with the sale of 28.2 million units worth N213.2 million, while Fidelity Bank followed with 17.2 million units valued at N38.4 million.
Mutual Benefits Assurance sold 16.8 million shares for N6.0 million, GTBank exchanged 13.7 million equities worth N423.1 million, while Transcorp sold 12.6 million shares valued at N10.2 million.
At the close of business, the All-Share Index (ASI) rose by 112.76 points to 39,128.34 points from 39,015.58 points, while the market capitalisation increased by N59 billion to N20.478 trillion from N20.419 trillion.
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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