Economy
In One Week, FTN Cocoa Gains 16.28%, Custodian Investment Sheds 17.86%
By Dipo Olowookere
The stock market in Nigeria performed badly last week and it resulted in a decline in the All-Share Index (ASI) by 0.15 per cent to 38,808,01 points and a reduction in the market capitalisation by 0.12 per cent to N20.310 trillion.
According to data from the exchange, all other indices finished lower in the five-day trading week except the NSE Premium, NSE Lotus II, industrial and sovereign bond counters, which rose by 0.65 per cent, 0.09 per cent, 0.95 per cent and 0.17 per cent respectively, while the ASeM and growth indices closed flat.
Business Post observed that the bears overpowered the bulls in the week and led to price depreciation in 47 equities, higher than 40 equities of the preceding week.
There were 18 price risers last week compared with 17 of the previous week, while a total of 97 stocks closed flat, lower than 105 of the earlier week.
Custodian Investment closed as the worst-performing stock of the week with a decline of 17.86 per cent to finish at N5.75 followed by Northern Nigerian Flour Mills, which lost 13.71 per cent to trade at N5.35.
Mutual Benefits Assurance declined by 12.82 per cent to sell for 34 kobo, Fidson went down by 9.89 per cent to N4.28, while Cutix dropped 9.78 per cent to N2.03.
On the flip side, FTN Cocoa ended as the best-performing stock with a gain of 16.28 per cent to close at 50 kobo.
Morison Industries grew by 9.30 per cent to 94 kobo, Royal Exchange appreciated by 8.33 per cent to 39 kobo, Meyer moved up by 8.16 per cent to 53 kobo, while UAC Nigeria improved by 7.53 per cent to N10.00.
On the activity chart, investors traded 1.3 billion shares worth N10.8 billion in 19,975 deals compared with the previous week’s 887.0 million shares valued at N9.2 billion transacted in 17,837 deals.
Fidelity Bank, FBN Holdings and Access Bank accounted for 390.8 million units worth N2.0 billion in 3,241 deals, contributing 30.94 per cent and 18.78 per cent to the total trading volume and value respectively.
Financial equities accounted for 853.1 million units valued at N6.8 billion in 11,127 deals, contributing 67.56 per cent and 62.78 per cent to the total trading volume and value respectively.
The conglomerates followed with 103.2 million units worth N704.6 million traded in 954 deals, while the energy sector had 89.5 million units worth N353.5 million in 1,479 deals.
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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