Economy
NASD Index Extends Weekly Bullish Run as Investors Gain N80bn in Week 10
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange ended in green territory for the sixth straight session in Week 10 after it closed higher by 27.31 per cent.
Data indicated that the NASD Unlisted Security Index (NSI) went up last week by 75.07 points in the week to 3,370.39 points from the preceding week’s 3,295.32 points.
In the same vein, the market capitalisation expanded by N79.79 billion to N1.946 trillion from N1.866 trillion, helped by the admission of a new member to the bourse, Infrastructure Credit Guarantee Company (InfraCredit) Plc.
In the week, Okitipupa Plc gained 29.8 per cent to end at N298.00 per share versus N229.52 per share, Newrest ASL appreciated by 10 per cent to N34.52 per unit from N31.38 per unit, Nipco Plc also improved by 10 per cent to N181.63 per share from N165.12 per share, and NASD Plc jumped by 9.9 per cent to N20.63 per unit from N18.76 per unit.
Further, Food Concepts Plc added 9.8 per cent to its price to close at N1.67 per share compared with the previous week’s N1.52 per share, UBN Property Plc rose by 5.7 per cent to N1.85 per unit from N1.75 per unit, Central Securities Clearing System (CSCS) Plc soared by 1.5 per cent to N23.02 per share from N22.68 per share, and Afriland Properties Plc advanced by 1.4 per cent to N22.90 per unit from N22.59 per unit.
On the flip side, First Trust Microfinance Plc lost 9.6 per cent to sell for 47 Kobo per share versus 52 Kobo per share, Industrial and General Insurance (IGI) Plc declined by 9.3 per cent to 39 Kobo per unit from 47 Kobo per unit, Geo-Fluids Plc slipped by 9.1 per cent to N2.91 per share from N3.20 per share, and FrieslandCampina Wamco Nigeria Plc crashed by 2.9 per cent to N37.00 per unit from N38.02 per unit.
In the five-day trading week, the volume of trades went down by 42.5 per cent to 4.59 million units from 7.99 million units and the value of transactions declined by 55.0 per cent to N128.1 million from N284.7 million.
FrieslandCampina Wamco Nigeria Plc was the most active by value last week with N74.8 million, followed by CSCS Plc with N34.9 million, Okitipupa Plc recorded N14.8 million, Geo-Fluids Plc transacted N1.3 million, and Nipco Plc posted N0.9 million.
Similarly, FrieslandCampina Wamco Plc was also the most traded stock by volume with 2.02 million units, CSCS Plc exchanged 1.5 million units, Geo-Fluids Plc recorded 0.433 million units, IGI Plc traded 0.202 million units, and First Trust Microfinance Plc traded 0.113 million units.
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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