Economy
Investors Trade 988m Shares Worth N13.8bn in Five Days
By Modupe Gbadeyanka
A total turnover of 988.5 million shares worth N13.8 billion were traded in 16,414 deals last week by investors on the floor of the Nigerian Stock Exchange (NSE). This was in contrast to a total of 1.025 billion shares valued at N9.9 billion that exchanged hands the previous week in 19,375 deals.
During the week, the All-Share Index (ASI) depreciated by 2.41 percent while the market capitalisation appreciated by 7.91 percent to close the week at 28,566.79 points and N13.922 trillion respectively.
All other indices finished lower with the exception of the NSE banking index that rose by 0.78 percent while the NSE ASeM Index closed flat.
According to data from the NSE, the Financial Services industry measured by volume led the activity chart with 769.4 million shares valued at N7.2 billion traded in 8,530 deals, contributing 77.83 percent and 52.30 percent to the total equity turnover volume and value respectively, while the Conglomerates sector followed with 55.2 million shares worth N92.5 million in 719 deals, with the third place occupied by the ICT sector after a turnover of 42.1 million shares valued at N4.1 billionin 839 deals.
Trading in Zenith Bank, FBN Holdings and Wapic Insurance accounted for 348.8 million shares worth N3.520 billion in 2,703 deals, contributing 35.29 percent and 25.44 percent to the total equity turnover volume and value respectively.
A total of 18 equities appreciated in price during the week, lower than 21 in the previous week, while 39 equities depreciated in price, lower than 44 equities in the previous week, with 111 equities remaining unchanged, higher than 103 equities recorded in the preceding week.
Topping the gainers’ chart in the week was Sovereign Trust Insurance, which appreciated by 9.52 percent.
Following were Union Bank by 9.49 percent, Cadbury Nigeria by 8.64 percent, Flour Mills by 8.00 percent and Cutix by 7.14 percent.
On the flip side, Forte Oil was the worst performing stock, depreciating by 23.33 percent.
GlaxoSmithKline went down by 18.63 percent, NAHCO declined by 16.88 percent, Conoil by 15.97 percent and PZ Cussons by 10.14 percent.
Also traded during the week by investors were a total of 1,115 units of Extended Traded Products (ETPs) valued at N165,837 executed in 3 deals compared with a total of 12,375 units valued at N6.223 million transacted a week earlier in 8deals.
In addition, a total of 756 units of Federal Government Bonds valued at N730,454.35 were traded last week in 7 deals compared with a total of 1.007 million units valued at N1.024 billion transacted the previous week in 14 deals.
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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