Economy
Index Surges 1.11% as Investors Divert More Funds Into Local Equities
By Dipo Olowookere
The first trading session of the new week closed on a positive note at the Nigerian Exchange (NGX) Limited on Monday, appreciating by 1.11 per cent.
Bargain-hunting in local equities sustained the upward trend recorded during the trading session as investors locked in funds in banking and consumer goods stocks.
Data from the bourse revealed that the banking space gained 5.65 per cent, and the consumer goods sector appreciated by 1.57 per cent.
During the session, the insurance counter lost 2.81 per cent, and the industrial goods index depreciated by 0.14 per cent, while the energy space closed flat.
When trading activities were ended, the All-Share Index (ASI) went up by 751.95 points to 68,279.14 points from 67,527.19 points, and the market capitalisation grew by N412 billion to N37.370 trillion from N36.958 trillion.
Investor sentiment was strong yesterday after the stock market closed with 39 price advancers and 18 price decliners, implying a positive market breadth index.
Dangote Sugar improved its value by 10.00 per cent to N66.55, NASCON grew by 9.98 per cent to N61.15, John Holt appreciated by 9.92 per cent to N1.44, Oando gained 9.91 per cent to trade at N6.10, and Lasaco Assurance increased by 9.60 per cent to N2.17.
On the other side, Consolidated Hallmark Insurance lost 9.57 per cent to quote at N1.04, Cornerstone Insurance declined by 9.29 per cent to N1.27, Sunu Assurances fell by 9.09 per cent to 80 Kobo, UPDC REIT slumped by 8.22 per cent to N3.35, and NGX Group went down by 7.20 per cent to N24.50.
It was a busy market day on Monday, as the volume of trades, value of transactions, and the number of deals increased by 67.86 per cent, 88.41 per cent, and 56.90 per cent apiece.
Investors traded 845.7 million stocks worth N13.9 billion in 11,934 deals compared with the 503.8 million stocks valued at N6.9 billion traded in 7,606 deals last Friday.
Regency Alliance was the busiest equity of the session after exchanging 101.0 million units valued at N40.4 million, Fidelity Bank traded 85.1 million units for N695.0 million, Zenith Bank sold 75.4 million shares valued at N2.8 billion, UBA transacted 60.2 million units worth N930.2 million, and Transcorp exchanged 56.8 million units valued at N407.4 million.
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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