Economy
Banking Stocks Weaken Market by 0.90% as Investors Lose N107bn
By Dipo Olowookere
Trading on the floor of the Nigerian Stock Exchange (NSE) began the week on a bad note on Monday as a result of losses posted by shares in the banking space.
The banking index closed 2.87 percent lower yesterday to have a devastating effect on the overall market, which went down by 0.90 percent at the close of transactions.
Business Post reports that the loss recorded yesterday has now reduced the year-to-date gain of the local exchange to 0.66 percent.
The All-Share Index (ASI), which stood at 31,924.51 points at the last trading session, reduced on Monday by 287.85 points to settle at 31,636.66 points.
In the same vein, the market capitalisation, which closed at N11.905 trillion last Friday, decreased by N107 billion yesterday to finish at N11.798 trillion.
It was observed that the total of number of depreciating stocks were more that the total number of appreciating equities yesterday, with 19 stocks staying on the losers’ chart against 14 equities on the gainers’ table.
Staying on top of the losers’ chart on Monday was Nestle Nigeria, which suffered a N30 loss to close at N1480 per unit.
Okomu Oil followed with N1 of its share value lost to end at N79 per unit, while Lafarge Africa went down by 45 kobo to finish at N12.50k per share.
International Breweries depreciated by 30 kobo to close at N26.70k per share, while Ecobank also declined by 30 kobo to quote at N13.70k per share.
On the other hand, it was a good trading day for NASCON as its share price appreciated by N1.70k to finish at N21.70k per share.
Cadbury Nigeria followed it closely with a price appreciation of N1.10k to end at N12.10k per share, while Zenith Bank increased by 30 kobo to close at N22.75k per share.
Flour Mills rose by 25 kobo to finish at N19.25k per share, while FBN Holdings moved up by 10 kobo to settle at N8.20k per share.
An analysis of the activity chart on Monday showed that while the volume of shares traded yesterday decreased by 44.96 percent, the value increased by 5.08 percent.
A total of 128.4 million shares worth N2.4 billion exchanged hands on Monday compared with the 233.3 million units sold for N2.3 billion last Friday.
Shares of FBN Holdings caught the attention of investors at the market yesterday, with a turnover of 34.1 million units sold for N279.2 million.
Zenith Bank traded 21.3 million units worth N484.4 million, while UBA transacted 17.5 million shares worth N134.3 million.
Access Bank traded 11.5 million equities worth N69.2 million, while GTBank exchanged 5.7 million shares valued at N211.8 million.
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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