Economy
Bears Tighten Grip on NGX, Weaken Index by 0.19%
By Dipo Olowookere
Transactions on the floor of the Nigerian Exchange (NGX) Limited closed bearish on Monday as investors continue to play safe and watch happenings from the sidelines.
The selloffs in the banking space continued yesterday, causing its index to marginally reduce by 0.02 per cent at the close of business. The energy sector also went down during the session by 0.35 per cent, affecting the general outcome of the market.
The two sectors outweighed the gains printed by the other three key sectors of the exchange as the insurance counter rose by 0.22 per cent, the industrial goods sector appreciated by 0.07 per cent, while the consumer goods space gained 0.01 per cent.
But the three sectors could not save the All-Share Index (ASI) from depreciating by 73.01 points to finish at 37,585.25 points compared with 37,658.26 points it finished last Friday.
Also, the market capitalisation went down at the close of business by N34 billion to N19.593 trillion from the previous N19.627 trillion.
The market breadth ended negative yesterday as there were 13 price gainers and 18 price losers led by BOC Gases, which depreciated by 9.95 per cent to N9.50.
Royal Exchange went down by 7.94 per cent to 58 kobo, Unity Bank shed 5.17 per cent to close at 55 kobo, Mutual Benefits Assurance dropped 4.76 per cent to sell for 40 kobo, while Honeywell Flour lost 4.52 per cent to trade at N1.48.
Ikeja Hotel was the best-performing stock of the day with a price appreciation of 10.00 per cent, finishing at N1.10, followed by Fidson, which gained 7.91 per cent to trade at N6.00.
Linkage Assurance appreciated by 7.69 per cent to 70 kobo, Chams gained 5.00 per cent to sell for 21 kobo, while FCMB appreciated by 3.33 per cent to quote at N3.10.
Business Post reports that FBN Holdings was the most active stock at the market on Monday with the sale of 18.1 million stocks worth N130.4 million.
UBA traded 13.0 million shares for N94.2 million, GT HoldCo transacted 11.9 million equities valued at N355.4 million, MTN Nigeria exchanged 9.2 million stocks for N150.1 million, while Zenith Bank traded 8.8 million shares worth N208.6 million.
At the close of trading activities, a total of 163.5 million equities worth N3.4 billion exchanged hands in 3,562 deals in contrast to the 202.7 million equities valued at N2.4 billion exchanged in 3,630 deals at the preceding session, indicating a 19.34 per cent decline in the trading volume, a 1.87 per cent decline in the number of deals and a 42.69 per cent growth in the trading value.
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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