Economy
49 Equities Gain Weight as NGX Index Rises 2.04% Week-on-Week
By Dipo Olowookere
A total of 49 equities finished on the gainers’ chart last week, higher than the 35 equities in the previous week due to the buying pressure witnessed at the Nigerian Exchange (NGX) Limited.
The week was characterised by the leadership tussle in Transcorp, which was quickly nipped in the bud after Mr Femi Otedola reportedly agreed to sell his stake to his friend, Mr Tony Elumelu.
This led to Transcorp leading the activity chart with Access Holdings and Fidelity, accounting for 13.116 billion shares worth N47.928 billion in 6,614 deals, contributing 93.49 per cent and 81.22 per cent to the total trading volume and value, respectively.
Business Post reports that the stock exchange operated for four days due to a public holiday observed last Monday for Eid-al-Fitr, and when the market closed on Friday, investors traded 14.029 billion stocks worth N59.007 billion in 24,048 deals compared with the 3.920 billion stocks valued at N15.620 billion transacted in 16,856 deals in the preceding week.
The conglomerates sector was the busiest, with the sale of 11.399 billion shares valued at N30.990 billion traded in 2,310 deals, contributing 81.25 per cent and 52.52 per cent to the total trading volume and value, respectively.
The financial services industry followed with 2.185 billion shares worth N22.225 billion in 11,946 deals, while the energy category recorded a turnover of 117.097 million shares worth N648.971 million in 1,500 deals.
In the week, 17 stocks shed weight compared with the 31 stocks in the previous week, while 90 equities remained unchanged, the same recorded in the previous week.
Honeywell Flour was the best-performing stock as it gained 34.91 per cent to trade at N3.13, Cadbury Nigeria improved by 32.35 per cent to N13.50, CWG rose by 19.32 per cent to N1.05, Chams jumped by 16.67 per cent to 28 Kobo, and Transcorp gained 14.69 per cent to trade at N2.81.
On the flip side, Nigerian Breweries was the worst-performing stock as it lost 11.48 per cent to quote at N32.00, Royal Exchange fell by 11.11 per cent to 56 Kobo, Red Star Express declined by 10.00 per cent N2.52, International Energy Insurance shrank by 8.82 per cent to N1.24, and Prestige Assurance crashed by 7.69 per cent to 36 Kobo.
Last week, the All-Share Index (ASI) and the market capitalisation chalked up 2.04 per cent to 52,403.51 points and N28.534 trillion, respectively.
Also, all other indices finished higher except NGX MERI Growth and energy indices, which dropped 1.58 per cent and 0.14 per cent, respectively, while the ASeM, growth and sovereign bond indices closed flat.
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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