Economy
Financial Stocks Maintain Dominance at Nigerian Exchange
By Dipo Olowookere
The demand for financial stocks at the Nigerian Exchange (NGX) Limited continued last week as investors bought and sold 1.578 billion units worth N15.652 billion in 14,851 deals.
This left the sector on top of the activity chart, contributing 71.82 per cent and 34.05 per cent to the total trading volume and value, respectively.
Business Post reports that energy shares followed with 157.221 million units valued at N1.304 billion in 3,549 deals, while the third place was occupied by the consumer goods equities with a turnover of 101.562 million units valued at N1.939 billion in 3,944 deals.
A breakdown showed that UBA, FCMB and NPF Microfinance Bank were the busiest shares in the five-day trading week, accounting for 696.244 million units worth N4.019 billion in 2,398 deals, contributing 31.70 per cent and 8.74 per cent to the total trading volume and value apiece.
In all, the Nigerian stock exchange witnessed the trading of 2.196 billion shares worth N45.971 billion in 31,655 deals in the week compared with the 2.586 billion shares worth N46.643 billion transacted in 35,122 deals a week earlier.
It was observed that the buying pressure lifted the All-Share Index (ASI) and the market capitalisation by 0.20 per cent to 55,930.97 points and N30.455 trillion, respectively.
Similarly, all other indices finished higher except NGX Premium, NGX AFR Div. Yield, NGX Lotus II, industrial goods, growth and sovereign bond indices, which depreciated by 0.75 per cent, 0.06 per cent, 0.08 per cent, 1.31 per cent, 0.51 per cent, and 1.50 per cent, respectively, while the ASeM index closed flat.
The bourse finished with 52 price gainers last week compared with 66 in the preceding week, 27 price losers compared with 23 in the previous week, as 77 stocks closed flat versus 67 stocks in the preceding week.
Eterna gained 45.41 per cent to end at N13.45, Unity Bank grew by 44.00 per cent to 72 Kobo, FTN Cocoa rose by 40.91 per cent to 93 Kobo, Secure Electronic Technology appreciated by 38.46 per cent to 36 Kobo, and Cornerstone Insurance increased by 37.35 per cent to N1.14.
In contrast, John Holt lost 26.70 per cent to trade at N1.40, RT Briscoe depreciated by 10.53 per cent to 34 Kobo, Sunu Assurance fell by 10.42 per cent to 43 Kobo, Courteville dropped 9.80 per cent to 46 Kobo, and Multiverse decreased by 9.54 per cent to N3.70.
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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