By Adedapo Adesanya

Four price gainers buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.61 per cent on Tuesday, April 14, with the market capitalisation growing by N14.11 billion to N2.334 trillion from N2.320 trillion, and the Unlisted Security Index (NSI) increasing by 23.57 points to 3,902.42 points from the previous day’s 3,878.83 points.

During the trading session, Nipco Plc went up by N31.00 to close at N344.oo per unit compared with the previous session’s N313.00 per unit, Okitipupa Plc appreciated by N20.00 to N280.00 per share from N300.00 per share, MRS Oil Plc improved by N16.40 to N180.40 per unit from N164.00 per unit, and Central Securities Clearing System (CSCS) Plc advanced by N2.50 to N65.55 per share from N63.04 per share.

Business Post reports that the NASD OTC bourse posted a sole price decliner yesterday, which was FrieslandCampina Wamco Nigeria Plc. It lost N9.89 to trade at N90.00 per unit versus N99.89 per unit.

The volume of securities traded by investors decreased by 97.9 per cent to  55,546 units from 2.6 million units, the value of securities declined by 73.4 per cent to N8.3 million from N31.2 million, and the number of deals dipped by 45.95 per cent to 20 deals from 37 deals.

Great Nigeria Insurance (GNI) Plc finished the day as the most traded stock by value on a year-to-date basis with 3.4 billion units worth N8.4 billion, followed by CSCS Plc with 57.6 million units transacted for N3.9 billion, and Okitipupa Plc with 27.6 million units traded at N1.8 billion.

GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis with 3.4 billion units valued at N8.4 billion, trailed by Resourcery Plc with 1.1 billion units sold for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units exchanged for N1.2 billion.

By Adedapo Adesanya

The Naira continued its appreciation against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, April 14, by N12.42 or 0.92 per cent to close at N1,343.77/$1 compared with the preceding day’s N1,356.19/$1.

In the same vein, the local currency gained 58 Kobo against the Pound Sterling in the spot market during the session to settle at N1,824.57/£1 versus Monday’s closing value of N1,825.15/£1, and appreciated against the Euro by N2.18 to N1,585.51/€1 from N1,587.69/€1.

Similarly, the Naira strengthened its value against the US Dollar at the GTBank forex counter yesterday by N2 to quote at N1,371/$1, in contrast to the previous session’s N1,373/$1, and at the black market, it improved by N5 to trade at N1,380/$1 compared with the N1,385/$1 it was transacted a day earlier.

Interbank liquidity increased sharply to N141.315 million across 175 deals, according to the FX update published by the Central Bank of Nigeria (CBN), a 260 per cent surge from N38.256 million the previous day.

High FX inflows, boosted by foreign portfolio investors’ funds channelled into OMO bills, increased demand for Naira.

Credit rating agency, Fitch, projected that Nigeria’s FX reserves may fall to $47 billion over mounting fiscal pressures, predicting that Nigeria’s budget deficit could widen to nearly five per cent of Gross Domestic Product (GDP).

The forecast comes amid continued reforms by the central bank aimed at stabilising the FX market, including measures to ease restrictions on the repatriation of oil export proceeds by international oil companies.

According to Fitch, these reforms have supported a “gradual normalisation” of the FX market and improved investor confidence, although structural weaknesses continue to weigh on the economy.

As for the cryptocurrency market, profit-taking by investors occurred amid signals of renewed US-Iran talks and growing expectations of Federal Reserve rate cuts later this year, which are projected to add liquidity and support risk assets, including digital currencies.

Optimism that the US and Iran will enter a second round of talks in the coming days has kept crude oil below $100 a barrel, easing the inflationary overhang that weighed on markets through March.

Solana (SOL) slumped by 3.1 per cent to $83.03, Ethereum (ETH) declined by 1.8 per cent to $2,318.70, Cardano (ADA) fell by 1.1 per cent to $0.2393, Ripple (XRP) dropped 0.7 per cent to $1.35, and Bitcoin (BTC) depreciated by 0.5 per cent to $74,019.75.

However, TRON (TRX) appreciated by 0.6 per cent to $0.3232, Dogecoin (DOGE) added 0.3 per cent to trade at $0.0933, and Binance Coin (BNB) rose by 0.1 per cent to $613.93, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.

By Dipo Olowookere

The bulls consolidated their dominance on the Nigerian Exchange (NGX) Limited on Tuesday after closing higher by 0.67 per cent, stretching the year-to-date return to 32.27 per cent.

It was observed that the key sectors of Nigeria’s stock exchange witnessed buying pressure, with the energy space expanding by 4.35 per cent, the banking index growing by 1.97 per cent, the industrial goods counter rising by 0.71 per cent, the insurance segment increasing by 0.65 per cent, and the consumer goods landscape up by 0.14 per cent.

Consequently, the All-Share Index (ASI) advanced by 1,372.52 points to 205,831.38 points from 204,458.86 points, and the market capitalisation chalked up N883 billion to close at N132.492 trillion compared with Monday’s N131.609 trillion.

There were 40 price gainers and 20 price losers yesterday, indicating a positive market breadth index and bullish investor sentiment.

Stanbic IBTC appreciated by 10.00 per cent to N161.70, Ecobank gained 10.00 per cent to sell for N50.60, NGX Group improved by 9.97 per cent to N168.75, Cornerstone Insurance added 9.94 per cent to quote at N5.64, and Mecure soared by 9.92 per cent to N67.60.

On the flip side, Fortis Global Insurance lost 8.20 per cent to trade at N1.12, McNichols depreciated by 8.17 per cent to N6.52, Academy Press slipped by 6.96 per cent to N7.35, International Energy Insurance dipped by 6.88 per cent to N3.25, and Guinea Insurance contracted by 5.83 per cent to N1.13.

During the session, market participants transacted 569.3 million shares valued at N32.3 billion in 45,777 deals versus the 470.0 million shares worth N32.5 billion traded in 60,793 deals the previous session, implying a jump in the trading volume by 21.13 per cent, and a slip in the trading value and number of deals by 0.62 per cent and 24.70 per cent, respectively.

The most active stock for the day remained Access Holdings with 67.5 million units sold for N1.8 billion, Zenith Bank traded 39.7 million units worth N4.5 billion, VFD Group transacted 37.6 million units valued at N423.0 million, GTCO exchanged 30.6 million units for N3.8 billion, and Lasaco Assurance transacted 26.3 million units worth N52.6 million.