Economy
N8.1bn Financial Stocks Exchange Hands in 12,488 Deals
By Modupe Gbadeyanka
Last week at the nation’s stock market, a total of 880.2 million shares in the financial services sector worth N8.1 billion were bought and sold by investors in 12,488 deals.
This made the industry contribute 62.15 percent and 46.90 percent to the total equity turnover volume and value respectively during the five-day trading week.
Trailing was the conglomerate industry, which recorded 283.9 million shares worth N1.6 billion in 841 deals, while the consumer goods space had a turnover of 80.8 million shares worth N2.4 billion in 2,871 deals.
During the week, the most traded three equities were UAC Nigeria, FBN Holdings and Access Bank, accounting for 554.9 million shares worth N4.3 billion in 4,113 deals, contributing 39.18 percent and 24.98 percent to the total equity turnover volume and value respectively.
Business Post reports that at the close of the week’s transactions, the Nigerian Stock Exchange (NSE) ended with a total turnover of 1.4 billion shares worth N17.3 billion in 20,303 deals, higher than the 2.1 billion shares valued at N33.9 billion transacted the previous week in 21,849 deals.
However, while the All-Share Index (ASI) appreciated week-on-week by 0.52 percent, the market capitalisation depreciated by 0.34 percent w-o-w to close at 26,991.42 points and N13.027 trillion respectively.
Data from the NSE showed that all other indices finished higher with the exception of NSE Premium, NSE Banking, NSE-AFR Bank Value and NSE Industrial Goods indices, which declined by 0.49 percent, 0.86 percent 0.28 percent and 2.25 percent respectively.
A total of 40 equities appreciated in price during the week, higher than 39 equities in the previous week, while 23 stocks depreciated in price, higher than 11 stocks in the previous week, with 102 shares remaining unchanged, lower than 116 shares recorded in the preceding week.
Neimeth International Pharmaceuticals was the highest price riser, growing by 40 percent to close at 56 kobo per share. Cornerstone Insurance gained 35.48 percent to close at 84 kobo per share, Chams rose by 33.33 percent to close at 36 kobo per share, Ikeja Hotel appreciated by 31.58 percent to close at N1.25 per share, while Conoil improved by 20.13 percent to close at N18.50 per share.
However, LASACO Insurance was the worst performing stock in the week, depreciating by 20.69 percent to close at 23 kobo per share, Jaiz Bank depreciated by 11.27 percent to close at 63 kobo per share, Associated Bus Company declined by 8.89 percent to close at 41 kobo per share, Sterling Bank fell by 8.52 percent to close at N2.04 per share, while AIICO Insurance depreciated by 6.58 percent to close at 71 kobo per share.
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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