Economy
Index Rises 0.34% as Conoil Closes as Best-Performing Stock
By Dipo Olowookere
A local energy firm, Conoil Plc, ended the first trading session of this week as the best-performing stock as investors showed more confidence in the domestic equity market again.
It was rough for the Nigerian Exchange (NGX) Limited last week but transactions on Monday were positive and market participants could not resist picking some shares trading at lower prices in anticipation of later gains.
This action lifted the market by 0.34 per cent at the close of business and saw the value of Conoil up by 9.97 per cent to N32.00. Pharma-Deko appreciated by 9.37 per cent to N1.75, Learn Africa went up by 8.72 per cent to N2.37, FTN Cocoa gained 5.88 per cent to trade at 36 kobo, while Chams resurrected by 4.17 per cent to 25 kobo.
However, Japaul ended the day as the worst-performing stock after its price shed 6.25 per cent to 30 kobo, ABC Transport lost 6.06 per cent to 31 kobo, Unilever declined by 3.01 per cent to sell at N14.50, AIICO Insurance dropped 2.94 per cent to 66 kobo, while Jaiz Bank went down by 2.22 per cent to 88 kobo.
Business Post reports that the exchange finished the session with 19 price gainers and 13 price losers, indicating a positive market breadth and a strong investor sentiment.
The activity chart was in green yesterday as the trading volume, value and number trades improved by 167.03 per cent, 164.04 per cent and 1.22 per cent respectively.
Investors transacted 755.6 million shares worth N8.9 billion in 4,297 deals compared with the 283.0 million shares worth N3.4 billion transacted in 4,245 deals in the previous session.
It was observed that a cross deal of over 600 million units of FBN Holdings contributed to the spike in trading volume yesterday and when the market closed for the day, the stock ended as the most active, trading 610.4 million units worth N6.8 billion.
Flour Mills traded 23.0 million shares valued at N803.9 million, Coronation Insurance exchanged 21.6 million stocks for N8.8 million, Transcorp traded 11.6 million equities worth N14.6 million, while Zenith Bank sold 8.9 million shares valued at N208.9 million.
Two sectors largely contributed to the gains recorded on Monday and they were the energy and industrial goods sectors, which appreciated by 0.68 per cent and 0.05 per cent respectively.
Sadly, the insurance, banking and consumer goods depreciated by 0.44 per cent, 0.42 per cent and 0.12 per cent respectively.
But for the All Share Index (ASI), it rose by 178.22 points to 53,086.46 points from 52,908.24 points, while the market capitalisation gained N96 billion to end at N28.619 trillion compared with the preceding session’s N28.523 trillion.
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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