Economy
Bears Weaken NGX Trading Indices by 0.14%
By Dipo Olowookere
The last trading session of the week on the floor of the Nigerian Exchange (NGX) Limited ended on a bearish note just like the first trading day.
The NGX trading indices went down by 0.14 per cent despite the market breadth closing positive yesterday with 25 price gainers and 16 price losers.
Business Post observed that selloffs in the shares of MTN Nigeria, GTBank, Oando, Nigerian Breweries, Fidelity Bank and others were responsible for the decline by the market yesterday.
At the close of transactions, the All-Share Index (ASI) decreased by 53.82 points to 39,156.28 points from 39,210.10 points, while the market capitalisation went down by N28 billion to finish at N20.409 trillion compared with N20.437 trillion it closed on Thursday.
The worst-performing stock of the day was Champion Breweries with a decline of 10.00 per cent to settle at N1.80. NEM Insurance also lost 10.00 per cent to sell for N1.80, Royal Exchange went down by 9.33 per cent to 68 kobo, FTN Cocoa reduced by 8.33 per cent to 33 kobo, while Learn Africa declined by 8.26 per cent to finish at N1.00.
On the gainers’ chart, Cutix occupied the top spot with a price appreciation of 9.88 per cent to sell for N2.78. Jaiz Bank gained 9.26 per cent to trade at 59 kobo, Mutual Benefits rose by 6.98 per cent to quote at 46 kobo, Axa Mansard gained 4.76 per cent to 88 kobo, while Northern Nigerian Flour Mills appreciated by 4.24 per cent to N6.15.
Yesterday, Sterling Bank was the most active stock with the sale of 32.1 million units valued at N50.6 million, followed by Vitafoam, which sold 27.6 million units worth N331.1 million.
Zenith Bank transacted 25.7 million equities worth N594.7 million, Fidelity Bank sold 23.0 million stocks valued at N51.9 million, while GTBank exchanged 14.1 million shares for N407.8 million.
At the close of business, investors traded 289.1 million stocks worth N3.6 billion in 3,719 deals compared with the 158.4 million stocks worth N2.2 billion transacted in 3,330 deals a day earlier.
This signified that the trading volume, value and the number of deals increased by 82.54 per cent, 58.52 per cent and 11.68 per cent respectively.
In terms of the performance of the key sectors of the exchange, the insurance and consumer goods sectors went down by 0.56 per cent and 0.15 per cent respectively, while the energy, banking and industrial goods counters appreciated by 0.94 per cent, 0.05 per cent and 0.03 per cent apiece.
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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