Economy
How Investors Pocketed Almost N500bn in 2 Days From Stock Trading
By Aduragbemi Omiyale
The rain of Naira fell on investors at the local bourse on Monday and Tuesday as they almost became N500 billion richer from stock trading ahead of the Sallah celebrations.
They were able to increase the value of their portfolios because of the effect of the policy direction of the administration of President Bola Tinubu.
The current government has not hidden its desire to improve the country’s economy, and the equity segment of the capital market is already buzzing.
On Tuesday, transactions at the floor of Nigerian Exchange (NGX) Limited closed in positive territory as the All-Share Index (ASI) crossed the 60,000 level for the first time in over a decade (March 5, 2008).
This was even as Nigerian shares climbed to a 17-year high due to price appreciation in the shares of GTCO (+5.20 per cent), Access Holdings (+3.61 per cent) and Japaul (+8.47 per cent).
As a result, the benchmark index rose by 1.30 per cent to 60,109.14 points, while market capitalisation, which opened at N32.309 trillion, grew by N421 billion to close at N32.729 trillion.
Coupled with Monday’s N72 billion gain, investors have now pocketed N493 billion since the market resumed trading this week. Thus, the market’s year-to-date (YTD) return rose to +17.28 per cent.
From a sectoral perspective, gains in the Banking (+3.5%), Oil and Gas (+3.21 per cent), Consumer Goods (+0.40 per cent), Industrial Goods (+0.17 per cent), and Insurance (+0.15 per cent) indices reflected the overall market performance.
The total volume of stocks traded grew by 38.2 per cent to 763.69 million units, valued at N12.533 billion, which exchanged hands in 9,463 deals as against 552.69 million units, valued at N13.06 billion and exchanged in 8,052 deals in the previous trading session.
Access Holdings was the most traded stock, trading about 111.66 million units worth N1.74 billion, GTCO followed with the sale of 78.98 million units valued at N2.69 billion, while UBA transacted 72.29 million units valued at N87.82 billion.
As measured by market breadth, market sentiment was positive as 51 securities appreciated in value while 13 others depreciated.
Afromedia led the gainers’ chart with 10 per cent to close at 22 Kobo. Courtville was next with 10 per cent to close at 66 Kobo, Ikeja Hotel advanced by 10 per cent to close at N3.63, Omatek added 10 per cent to close at 33 Kobo, while Transcorp Hotels garnered 9.97 per cent to close at N21.29.
Red Star Express led the losers’ chart with 10 per cent to close at N3.15 per share. C&I leasing was next with 9.79 per cent to close at N3.50, Morison dropped 9.22 per cent to close at N1.97, Sovereign Insurance lost 7.41 per cent to close at 50 Kobo while May & Baker fell by 6.42 per cent to close at N5.10.
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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