Economy
BUA Foods, Oando, MTN, Others Crash Stock Market by 0.40%
By Dipo Olowookere
Sell-offs in some large-cap equities like MTN Nigeria, BUA Foods, Dangote Sugar, Lafarge Africa, UBA, and others brought down the domestic stock market by 0.40 per cent on Thursday after closing positive in the past six consecutive trading sessions.
The profit-taking was prominent in the energy and consumer goods sectors, according to data harvested from the Nigerian Exchange (NGX) Limited by Business Post.
Yesterday, the consumer goods counter went down by 1.44 per cent, the energy sector depreciated by 1.25 per cent, and the banking index weakened by 0.57 per cent.
However, the industrial goods space appreciated by 2.11 per cent, and the insurance industry grew by 1.08 per cent, while the commodity sector closed flat.
When Customs Street ended for the session at 2:30 pm, the All-Share Index (ASI) was down by 485.01 points to 120,772.68 points from 121,257.69 points and the market capitalisation declined by N307 billion to N76.454 trillion from N76.761 trillion.
Investor sentiment turned bearish yesterday after the bourse ended with 33 price gainers and 37 price losers, representing a negative market breadth index.
Thomas Wyatt lost 10.00 per cent to close at N2.07, NAHCO depreciated by 9.99 per cent to N91.00, Oando tumbled by 9.96 per cent to N61.90, ABC Transport crashed by 8.92 per cent to N2.45, and Champion Breweries slumped by 8.34 per cent to N10.00.
On the flip side, Unilever Nigeria appreciated by 10.00 per cent to N51.70, SFS REIT also gained 10.00 per cent to sell for N249.25, Neimeth jumped by 9.98 per cent to N5.40, UAC Nigeria improved by 9.97 per cent to N38.05, and CAP advanced by 9.92 per cent to N47.10.
The market participants bought and sold 893.0 million shares valued at N18.2 billion in 25,375 deals during the session compared with the 861.7 million shares worth N26.2 billion traded in 22,896 deals at midweek, representing a growth in the trading volume and number of deals by 3.63 per cent and 10.83 per cent apiece and a 30.53 per cent shortfall in the trading value.
The activity chart was led by Ellah Lakes on Thursday with 113.5 million stocks worth N851.1 million, Access Holdings sold 76.2 million equities for N1.7 billion, Caverton exchanged 64.9 million shares valued at N334.8 million, Japaul transacted 61.6 million equities for N126.7 million, and Zenith Bank traded 60.6 million shares worth N3.5 billion.
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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