Economy
NASD Investors Gain N7.45bn on Last Trading Week of 2022
By Adedapo Adesanya
The 52nd and final trading week at the NASD Over-the-Counter (OTC) Securities Exchange in 2022 ended on a bullish note, with investors witnessing growth in their portfolios by 0.80 per cent.
Business Post reports that this increased the market capitalisation of the exchange by N7.45 billion last Friday to N932.51 billion from N925.06 trillion in Week 51.
In the same vein, the expansion jerked the NASD OTC Securities Index (NSI) higher by 5.66 points to 709.66 points from the 704.00 points achieved in the preceding week.
A cursory look at the data from the bourse showed that there were more price losers in the week than price gainers, but the performance of the bulls overshadowed the bears.
Last week, Niger Delta Exploration and Production (NDEP) Plc gained 16.3 per cent to trade at N197.78 per share compared with the previous week’s N170.71 per cent, and FrieslandCampina Wamco Nigeria Plc rose by 2.1 per cent to sell at N67.38 per unit versus N66.00 per unit.
However, VFD Group Plc lost 0.9 per cent to close at N244.00 per unit, in contrast to the previous week’s N244.88 per unit, UBN Property Plc decreased by 1.2 per cent to 80 Kobo per share from 81 Kobo per share, and Central Securities Clearing System (CSCS) Plc went down by 0.1 per cent to N12.46 per share from N12.47 per share.
In the week, the total value of transactions depleted by 23.1 per cent to N172.3 million from N223.9 million, the total volume of trades reduced by 2.9 per cent to 44.6 million units from 45.9 million units, and the number of deals declined by 4.9 per cent to 58 deals from 61 deals.
Geo-Fluids Plc was the most traded stock by volume with 40 million units, followed by UBN Property Plc with 3.5 million units, NDEP Plc with 346,680 units, VFD Group Plc with 276,675 units, and Food Concepts Plc with 186,179 units.
But the most traded stock by value was NDEP Plc with N67.3 million, VFD Group Plc traded N61.4 million, Geo-Fluids Plc recorded N28 million, UBN Property posted N2.6 million, and CSCS Plc transacted N1.7 million.
In the year, investors transacted 3.9 billion units of shares valued at N28.02 billion in 2,706 deals.
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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