Economy
MTN Nigeria, 12 Others Stab Stock Market by 0.53%
By Dipo Olowookere
Investors at the nation’s stock market were left in severe pain on Tuesday after they had expected that the market would maintain the positive momentum it recorded at Monday’s trading session.
But activities of profit takers did not let this dream come true as selloffs in stocks like MTN Nigeria, GTBank, UBA, Lafarge Africa and eight others inflicted a cut of about 0.58 percent deep on the exchange at the close of transactions.
Consequently, the All-Share Index (ASI) reduced by 140.06 points to 26,244.39 points from 26,384.45 points, while the market capitalisation decreased by N68 billion to N12.776 trillion from N12.844 trillion.
MTN Nigeria, which was the heaviest price loser, went down by N2.05 to finish at N126.95 per unit, while GTBank followed with a loss of 70 kobo to close at N25.50 per share.
Lafarge Africa went down by 60 kobo to settle at N14.35 per unit, while NAHCO and UBA lost 10 each to close at N2.35 per share and N5.75 per share respectively.
At the other side, the gainers’ chart had 10 members on Tuesday, with GlaxoSmithKline leading the pack after adding 50 kobo to its share price to close at N6.30 per unit.
Red Star Express gained 40 kobo to close at N4.45 per unit, Nigerian Breweries appreciated by 20 kobo to end at N46.25 per unit, Africa Prudential rose by 8 kobo to finish at N3.90 per share, while AIICO Insurance improved by 6 kobo to close at 69 kobo per share.
Like in the previous session, the activity chart remained mixed with the volume of transactions going down by 44.87 percent as well as the number of deals, which dropped by 23.15 percent, while the value of the trades increased by 156.66 percent.
A total of 267.9 million shares worth N2.8 billion were traded by investors yesterday in 2,967 deals in contrast to the 485.9 million equities valued at N1.1 billion exchanged the previous day in 3,861 deals.
Banking stocks were very busy on Tuesday as they dominated the activity log, with FCMB topping the table with 51.6 million units of its shares sold for N82.5 million.
Zenith Bank traded 43.1 million units worth N732.0 million, GTBank exchanged 42.3 million valued at N1.1 billion, Access Bank transacted 37.2 stocks for N272.0 million, while Sterling Bank traded 34.8 million shares valued at N68.0 million.
An analysis by Business Post of the five major sectors at the Nigerian Stock Exchange (NSE) indicated three of them closed bearish, while the two others finished bullish.
The banking, energy and industrial goods sectors closed lower by 0.94 percent, 0.16 percent and 0.95 percent respectively, while insurance and the consumer goods indices finished higher by 0.77 percent and 0.08 percent respectively.
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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