Economy
Local Stock Market Further Trends Downward by 0.11%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further depreciated by 0.11 per cent on Tuesday on the back of sustained profit-taking by investors.
It was observed that the loss was across the major sectors of the local stock market, with the banking space recording the highest fall of 0.99 per cent.
The energy counter fell by 0.50 per cent, the insurance sector retreated by 0.33 per cent, the consumer goods counter went down by 0.30 per cent, while the industrial goods index closed flat.
At the close of business, the All-Share Index (ASI) declined by 50.77 points to 46,843.09 points from 46,893.86 points, while the market capitalisation increased by N27 billion to N25.246 trillion from N25.273 trillion.
During the session, investors transacted a total of 214.3 million stocks worth N1.8 billion in 4,125 deals compared with the 359.9 million stocks worth N2.6 billion in 5,163 deals, indicating a decline in the trading volume, value and number of deals by 40.45 per cent, 31.43 per cent and 20.10 per cent respectively.
Chams was the busiest stock as it sold 30.4 million units worth N6.1 million, Access Holdings transacted 30.3 million units valued at N305.5 million, Transcorp exchanged 20.5 million units valued at N20.4 million, FBN Holdings traded 18.5 million stocks for N216.4 million, while eTranzact sold 13.1 million equities for N34.7 million.
From the analysis of the trading data, the market breadth closed negative on Tuesday with 18 depreciating stocks and 16 appreciating stocks, implying a weak investor sentiment.
International Breweries was the worst-performing stock as it shed 10.00 per cent to close at N4.50, Veritas Kapital lost 8.70 per cent to finish at 21 kobo, FTN Cocoa fell by 5.71 per cent to 33 kobo, Fidelity Bank depreciated by 4.88 per cent to N3.12, while Chams declined by 4.76 per cent to 20 kobo.
Conversely, PZ Cussons ended the session as the best-performing stock after it grew by 9.80 per cent to N11.20, followed by Japaul, which appreciated by 9.68 per cent to 34 kobo.
FCMB rose by 9.32 per cent to N3.40, Consolidated Hallmark Insurance improved by 4.92 per cent to 64 kobo, while NPF Microfinance Bank gained 3.81 per cent to sell for N2.45.
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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