Economy
Industrial Goods Equities Drive NGX 0.87% Week-on-Week Gain
By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited appreciated by 0.87 per cent week-on-week to 100,539,40 points and the market capitalisation increased by 0.86 per cent to N56.929 trillion last week following renewed interest in industrial goods equities.
Also in the week, all other indices finished higher apart from the banking, insurance, AFR Bank Value, consumer goods, energy, growth and sovereign bond sectors, which depreciated by 0.05 per cent, 4.86 per cent, 0.07 per cent 0.20 per cent, 0.10 per cent, 0.43 per cent and 4.35 per cent, respectively, while the NGX ASeM index closed flat.
Business Post reports that 37 equities gained weight last week at the exchange versus 34 equities of the preceding week, 34 stocks depreciated versus 38 stocks a week earlier, and 80 shares closed flat versus 82 shares of the previous week
United Capital was the best-performing stock after it chalked up 42.78 per cent to close at N40.55, Africa Prudential rose by 33.78 per cent to N9.90, Cutix jumped by 29.65 per cent to N5.99, Champion Breweries gained 12.09 per cent to N3.43, and Oando expanded by 11.28 per cent to N18.25.
The worst-performing equity for the week was Linkage Assurance, which fell by 24.56 per cent o N86 Kobo, Veritas Kapital went down by 11.67 per cent to N1.06, Vitafoam declined by 10.38 per cent to N19.00, Chellarams retreated by 9.76 per cent to N3.70, and McNichols slipped by 9.01 per cent to N1.01.
A look at the activity chart showed that investors traded 2.827 billion shares worth N42.366 billion in 44,277 deals, in contrast to 2.765 billion shares worth N85.230 billion transacted in 40,796 deals in the previous week.
The financial services space topped with 2.179 billion equities valued at N30.667 billion in 25,260 deals, contributing 77.08 per cent and 72.38 per cent to the total trading volume and value, respectively.
The industrial goods sector trailed with 246.921 million stocks worth N2.039 billion in 2,068 deals, and the energy industry sold 107.218 million shares worth N1.704 billion in 3,128 deals.
Jaiz Bank, Cutix, and FCMB were the busiest at the bourse in the five-day trading week, with 1.140 billion units sold for N4.632 billion in 2,701 deals, contributing 40.32 per cent and 10.93 per cent to the total trading volume and value, respectively.
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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