Economy
Interest in Banking Stocks Pushes NGX Index Back to Bulls’ Zone
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited made a quick return to the bulls’ zone on Friday, rising by 0.17 per cent on the back of interest in banking stocks.
The sector witnessed a significant increase as well as transactions at the final session of the week and this was mainly due to cross deals, especially in Sterling Bank, GTCO and Stanbic IBTC Holdings, according to data sourced by Business Post.
This pushed the level of activities higher yesterday as the trading volume rose by 72.21 per cent to 277.0 million units from the previous day’s 160.9 million units.
Also, the trading value appreciated by69.19 per cent to N2.4 billion from N1.4 billion, while the number of deals depreciated by 4.45 per cent to 3,524 deals from 3,688 deals.
At the close of trades, Sterling Bank traded the highest volume of shares with 83.6 million units valued at N125.5 million, followed by FBN Holdings with 52.6 million units worth N575.5 million.
Access Bank transacted 21.5 million stocks valued at N203.5 million, Transcorp exchanged 15.6 million shares worth N16.2 million, while Stanbic IBTC traded 13.6 million equities for N530.9 million.
Three of the five key sectors of the market appreciated on Friday led by the banking space with a 1.76 per cent. The insurance sector grew by 0.83 per cent, the energy index gained 0.22 per cent, while the insurance and industrial goods counters depreciated by 0.51 per cent and 0.02 per cent respectively.
the market breadth turned positive yesterday, unlike the previous trading days as there were 13 price losers and 25 price gainers led by Wema Bank, which appreciated by 10.00 per cent to sell for 88 kobo.
Consolidated Hallmark Insurance rose by 9.26 per cent to 59 kobo, Royal Exchange gained 8.33 per cent to close at 52 kobo, Mutual Benefits Assurance jumped by 8.00 per cent to 27 kobo, while Japaul appreciated by 7.89 per cent to 41 kobo.
The losers’ gang was led on Friday by Unilever Nigeria after its value dropped 6.32 per cent to N13.35. Universal Insurance fell by 4.55 per cent to 21 kobo, NGX Group declined by 4.31 per cent to N17.75, NPF Microfinance Bank shed 3.59 per cent to trade at N1.88, while Linkage Assurance crashed by 3.51 per cent to 55 kobo.
As for the All-Share Index (ASI), it increased by 70.67 points to 42,014.50 points from 41,943.83 points, while the market capitalisation went up by N37 billion to N21.926 trillion from N21.889 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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