Economy
MTN, Zenith Bank Drive Stock Market’s 0.35% Growth
By Dipo Olowookere
The domestic stock market sustained its positive momentum on Tuesday with a 0.35 per cent growth driven by gains in MTN Nigeria, Zenith Bank, Lafarge Africa, Global Spectrum Energy Services and others.
Though the bears made frantic efforts to take control of the market, the bulls slightly maintained dominance at the close of transactions as 16 equities finished stronger while 15 stocks closed in the red zone.
Global Spectrum Energy Services recorded the highest price appreciation yesterday after its value jumped by 10.00 per cent to N2.75, Jaiz Bank appreciated by 7.95 per cent to 95 kobo, Japaul rose by 6.67 per cent to 32 kobo, GlaxoSmithKline gained 5.11 per cent to sell for N7.20, while UAC Nigeria improved by 4.55 per cent to N11.50.
Conversely, Cutix ended the trading day on top of the price losers’ log after it went down by 10.00 per cent to N2.61, Cadbury Nigeria deflated by 5.93 per cent to N16.65, FTN Cocoa declined by 5.56 per cent to 34 kobo, Coronation Insurance fell by 4.76 per cent to 40 kobo, while Honeywell Flour went down by 4.55 per cent to N3.15.
Business Post reports that the insurance and consumer goods sectors were down by 0.37 per cent and 0.26 per cent respectively on Tuesday, while the banking and industrial goods counters improved by 0.29 per cent and 0.04 per cent apiece, with the energy index closing flat.
As for the key performance indicator, the All Share Index (ASI), it was up by 184.42 points to 53,270.88 points from 53,086.46 points, while the market capitalisation climbed higher by N10 billion to N28.719 trillion from N28.619 trillion.
Unlike the previous day, trading activities on the floor of the Nigerian Exchange (NGX) Limited were quiet yesterday with investors trading 234.6 million stocks, 68.95 per cent lower than the 755.6 million stocks transacted a day earlier.
Similarly, the value of equities traded by market participants went down by 69.16 per cent to N2.8 billion from N8.9 billion, while the number of deals decreased by 1.51 per cent to 4,232 deals from 4,297 deals.
Transcorp was the busiest stock during the session, trading 30.4 million units for N37.2 million, UBA exchanged 25.8 million units valued at N201.3 million, Chams sold 20.5 million units for N4.9 million, NGX Group traded 18.5 million units worth N460.0 million, while Fidelity Bank transacted 17.5 million units valued at N59.4 million.
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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