Economy
Market Indices Drop 0.07% as Investors Sell Off Honeywell Flour, 17 Others
By Dipo Olowookere
The upward movement recorded by the Nigerian Exchange (NGX) Limited Tuesday could not be sustained on Wednesday as the bourse relapsed into its depression state with a 0.07 per cent loss at the close of business.
The exchange came under heavy selling pressure amid weak investor sentiment caused by the decline in the share prices of 18 companies and the growth posted by nine firms.
Global Spectrum Energy Services recorded the highest fall as its share value waned by 9.82 per cent to N2.48, followed by Honeywell Flour, which lost 9.77 per cent to close at N1.94. Livestock Feeds depreciated by 9.65 per cent to N1.03, RT Briscoe contracted by 8.82 per cent to 31 Kobo, and Chams dropped 7.14 per cent to sell for 26 Kobo.
Conversely, Red Star Express appreciated by 8.49 per cent to N2.30, May and Baker rose by 3.70 per cent to N4.20, Oando improved by 2.27 per cent to N4.50, Cornerstone Insurance garnered 1.85 per cent to swell to 55 Kobo, and Sterling Bank increased its value by 1.31 per cent to N1.55.
Analysis of the market data indicated that the energy counter appreciated by 0.35 per cent. Still, it could not solely keep the positive vibes of the market going due to the losses posted by the other key sectors.
The insurance sector depreciated by 0.53 per cent, the banking space went down by 0.31 per cent, the consumer goods index decreased by 0.05 per cent, and the industrial goods counter closed flat.
Consequently, the All-Share Index (ASI) depreciated by 34.08 points to 47,531.84 points from 47,565.92 points, and the market capitalisation went down by N19 billion to N25.889 trillion from N25.908 trillion.
During the session, a total of 155.2 million stocks worth N3.7 billion exchanged hands in 3,797 deals compared with the 125.7 million stocks worth N1.9 billion transacted in 4,188 deals, indicating a decline in the number of deals by 9.34 per cent and an increase in the trading volume and value by 23.50 per cent and 92.22 per cent, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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.
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