Economy
Customs Street Begins December Bearish, Loses 0.22% to Profit-taking
By Dipo Olowookere
The first trading day of the month and week on Customs Street ended on a negative note on Monday with a 0.22 per cent loss.
The decline suffered by the Nigerian Exchange (NGX) Limited during the session was influenced by profit-taking as investors prepare for Detty December.
Business Post observed that the financial services sector attempted to lift the market but selling pressure on the other sectors did not help matters.
According to data, the banking space went up by 0.11 per cent and the insurance counter appreciated by 0.10 per cent.
However, the consumer goods index lost 1.01 per cent, the energy industry slipped by 0.11 per cent, the industrial goods sector depreciated by 0.07 per cent, and the commodity space shrank by 0.06 per cent.
Consequently, the All-Share Index (ASI) contracted by 310.20 points to 143,210.33 points from 143,520.53 points and the market capitalisation retreated by N197 billion to N91.089 trillion from N91.286 trillion.
International Breweries topped the losers’ table after it lost 10.00 per cent to close at N10.35, RT Briscoe depleted by 9.88 per cent to N3.10, Cornerstone Insurance shrank by 7.83 per cent to N5.53, DAAR Communications went down by 6.52 per cent to 86 Kobo, and Regency Alliance crashed by 4.81 per cent to 99 Kobo.
Conversely, NCR Nigeria led the gainers’ gang after it chalked up 9.97 per cent to trade at N60.10, Sunu Assurances appreciated by 9.18 per cent to N4.28, Champion Breweries improved by 8.11 per cent to N14.00, MeCure Industries rose by 7.58 per cent to N29.80, and Guinea Insurance gained 7.27 per cent to finish at N1.18.
Analysis of the data from the bourse showed that 19 equities ended on the gainers’ group and 26 equities finished on the losers’ side, indicating a negative market breadth index and weak investor sentiment.
The activity chart was dominated by Cornerstone Insurance with the sale of 908.8 million shares valued at N4.6 billion, Wema Bank transacted 113.3 million stocks for N2.1 billion, Access Holdings traded 93.9 million equities worth N2.0 billion, Fidelity Bank sold 59.9 million shares worth N1.1 billion, and Zenith Bank exchanged 25.0 million stocks valued at N1.5 billion.
At the close of trades, a total of 1.5 billion equities worth N18.7 billion exchanged hands in 28,956 deals, in contrast to the 1.8 billion equities valued at N20.0 billion traded in 20,645 deals last Friday.
This implied that the number of deals increased by 40.26 per cent, the volume of transactions went down by 16.67 per cent, and the value of trades decreased by 6.50 per cent.
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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