Economy
NASD OTC Bourse Extends Bullish Run by 0.16% in Week 26
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange continued its presence in the positive territory with a 0.16 per cent growth in the 26th week of trading of 2023 in a week of short trading due to a two-day break.
The valuation of investors’ portfolio rose by N1.67 billion, leaving the market capitalisation of the NASD OTC bourse at N1.040 trillion from the N1.038 trillion it closed in the preceding week, while the NASD Unlisted Securities Index (NSI) gained 1.75 points to wrap the week at 752.03 points compared with 750.28 points recorded at the previous week.
There were two price gainers and four price losers in the three days of trading last week.
Niger Delta Exploration and Production (NDEP) Plc appreciated by 10.2 per cent in the week to trade at N275.50 per unit versus the preceding week’s N250.12 per unit, as UBN Property Plc improved its value by 5.3 per cent to N1.00 per share from the 95 Kobo per share it finished a week earlier.
On the flip side, FrieslandCampina Wamco Nigeria Plc dropped 1.4 per cent to quote at N69.98 per share versus N70.96 per share, NASD Plc lost 10 per cent to settle at N13.95 per unit compared with the previous week’s N15.50 per unit, Central Securities Clearing System (CSCS) Plc depleted by 0.6 per cent to close at N18.00 per unit, in contrast to the previous week’s price of N18.10 per unit, and Purple Real Estate Plc shed 0.2 per cent to trade at N5.20 per share versus the previous closing price of N5.21 per share.
In the week, there was a 1,301.1 per cent increase in the total value of transactions to N21.73 billion from the N1.55 billion recorded in the previous week, the total volume trades improved by 4,218.8 per cent to 1.1 billion units from 25.2 million units, and the number of trades went down by 21.9 per cent to 75 deals from 96 deals.
At the close of the week, CSCS Plc was the most traded stock by volume with 1.08 billion units, VFD Group Plc traded 2.22 million units, Purple Real Estate Plc exchanged 2.05 million units, UBN Property Plc transacted 530,000 units, and NDEP Plc also traded 530,000 units.
In terms of value, CSCS Plc also topped with N2.1 billion, VFD Group Plc followed with N489.8 million, NDEP Plc posted N133.7 million, Purple Real Estate Plc recorded N10.7 million, and UBN Property Plc raked in N530,000.
In the year so far, investors have traded a total of 2.85 billion units valued at N29.1 billion in 1,733 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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