Economy
MTN, BUA Cement Revive Stock Exchange by 0.93%
By Dipo Olowookere
The local stock market was revived on Monday by 0.93 percent by MTN Nigeria, BUA Cement and 29 other equities at the close of transactions.
These stocks ensured that the Nigerian Stock Exchange (NSE) did not record the third consecutive loss yesterday, giving investors something to savour.
Business Post reports that market participants went on bargain hunting yesterday after prices dropped in the two previous sessions.
When market activities wrapped up on Monday, the All-Share Index (ASI) was up by 233.90 points to 25,250.20 points, while the total market value increased by N122 billion to N13.172 trillion.
According to data from the exchange, MTN Nigeria was the highest price gainer on Monday, appreciating by N2 to settle at N118 per unit.
BUA Cement gained N1.50 to end at N41.50 per share, UAC Nigeria improved by 50 kobo to N8.25 per unit, Nigerian Breweries increased by 50 kobo to N42.50 per unit, while Vitafoam grew by 29 kobo to N5.69 per share.
The 40 kobo lost by Dangote Sugar yesterday made it the highest price loser, closing at N14.55 per share, while Guinness Nigeria, which followed, lost 30 kobo to sell at N18 per share.
Eterna depreciated by 12 kobo to N2.55 per unit, Cornerstone Insurance declined by 5 kobo to sell at 50 kobo per share, while Custodian Investment decreased by 5 kobo to quote at N6 per share.
At the session, FBN Holdings was the most attractive stock, selling 34.5 million units valued at N188.4 million, while GTBank traded 22.9 million shares for N550.1 million.
Japaul Oil exchanged 21.2 million equities valued at N6.4 million, UBA transacted 19.5 million shares for N132.0 million, while Zenith Bank traded 19.3 million shares for N327.1 million.
When trading ended yesterday, a total of 222.4 million shares worth N2.1 billion exchanged hands in 4,503 deals in contrast to the 214.5 million equities worth N2.5 billion traded in 4,342 deals last Friday.
This indicated that the number of deals and volume of traded stocks increased by 3.71 percent and 3.68 percent respectively, the value of transactions decreased by 16.84 percent.
Business Post observed keenly that on Monday, all the five sectors closed in green, with the industrial goods sector the highest gainer, 2.39 percent.
The insurance sector improved by 1.57 percent, the banking sector rose by 1.09 percent, the oil/gas space grew by 0.24 percent, while the consumer goods counter improved by 0.04 percent.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
