Economy
Local Equities Drown by 0.09% After N12 Loss
By Dipo Olowookere
The stock market was depressed on Tuesday following sustained profit-taking embarked upon by investors. This drowned the bourse by 0.09 percent at the close of business.
Equities in the insurance sector were the most hit and this brought its index down by 2.09 percent. The energy space lost 0.57 percent, consumer goods index decreased by 0.24 percent, while the banking counter dropped 0.11 percent. The industrial goods index appreciated by 1.03 percent.
For the benchmark index, the All-Share Index (ASI) depreciated yesterday by 23.37 points to 24,930.88 points, while the market capitalisation went down by N12 billion to settle at N13.006 trillion.
The activity chart was in red on Tuesday following the 15.68 percent loss in the trading volume, 1.47 percent decline in the trading value and 12.77 percent crash in the number of deals.
A total of 200.4 million stocks valued at N1.56 billion exchanged hands in 4,194 deals during the day as against the 237.7 million shares worth N1.61 billion traded in 4,808 deals the previous day.
FBN Holdings was the most active stock yesterday, trading 27.0 million units worth N139.9 million, while investors traded 22.6 million shares of Zenith Bank valued at N368.5 million.
FCMB transacted 21.3 million equities for N36.6 million, Lafarge Africa exchanged 11.9 million stocks for N129.9 million, while GTBank traded 11.5 million shares worth N272.0 million.
On the price movement chart, Flour Mills was the heaviest price loser, depreciating by N1.40 to close at N19.55 per share.
MTN Nigeria fell by N1 to finish at N115 per unit, Ardova crashed by 65 kobo to end at N13.75 per share, C&I Leasing depreciated by 45 kobo to sell at N4.35 per unit, while Neimeth went down by 23 kobo to N2.09 per share.
At the other side, BUA Cement finished the session as the highest price gainer, rising by 65 kobo to sell at N41.40 per unit.
Fidson gained 33 kobo to settle at N3.63 per unit, SAHCO grew by 22 kobo to N2.95 per share, Red Star Express appreciated by 17 kobo to N3.80 per unit, while Caverton gained 15 kobo to sell at N2.19 per share.
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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