Economy
Investors Lose N11.8bn Amid Mop up of Banking Stocks
By Dipo Olowookere
Further activities of profit takers on the floor of the Nigerian Stock Exchange (NSE) on Tuesday resulted in the 0.09 percent loss suffered by the market, Business Post is reporting.
The decline recorded by the domestic stock market came despite the positive performances put up by the banking and the industrial goods sectors at the trading session. While the former appreciated by 0.09 percent, the latter rose by 0.19 percent.
For the other sectors, the insurance index depreciated by 0.32 percent, while the consumer goods index went down by 0.03 percent, with the energy sector closing flat for the second consecutive session.
It was observed that one of the major reasons Customs Street closed in red on Tuesday was because of MTN Nigeria, which has been under attacks since Sunday, when it informed its subscribers that the usage of its USSD platform for financial transactions would attract N4 per 20 seconds from this Monday. Government came in and directed the leading telco to stop this charge.
At the stock market yesterday, shares of the company went down by N1 to close at N129 per unit, while Eterna followed with a decline of 30 kobo to its shares to finish at N2.85 per unit.
Cadbury Nigeria went down by 25 kobo to close at N9.60 per share, May & Baker depreciated by 19 kobo to end at N2 per unit, while Dangote Cement fell by 10 kobo to settle at N143.90 per share.
At the other end, Stanbic IBTC topped the gainers’ chart with a price appreciation of 75 kobo to finish at N37 per share, while CCNN gained 15 kobo to close at N16 per unit.
Cutix appreciated by 13 kobo to end at N1.44 per unit, UAC Nigeria rose by 10 kobo to settle at N6.50 per unit, while Access Bank improved by 5 kobo to close at N7.35 per share.
Unlike the previous session, the level of transactions improved significantly with the volume of traded equities rising by 182.29 percent and the value jumping by 474.75 percent.
A total of 694.0 million shares worth N7.8 billion were traded in 2,780 deals on Tuesday compared with the 245.6 million equities valued at N1.4 billion transacted in 2,514 deals on Monday.
An analysis of these trades showed that Zenith Bank was the most transacted stock at the market yesterday, selling 357.2 million units valued at N6.2 billion.
Omoluabi Mortgage Bank traded 174.3 million units worth N95.8 million, Fidelity Bank traded 31.8 million shares for N54.0 million, May & Baker exchanged 28.0 million equities worth N56.1 million, while GTBank transacted 25.3 million shares valued at N666.3 million.
By the time activities were wrapped up at the local stock market on Tuesday, the All-Share Index (ASI) reduced by 24.25 points to close at 26,365.83 points, while the market capitalisation decreased by N11.8 billion to settle at N12.835 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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