Economy
NASD OTC Bourse Extends Green Run by 0.41% in Week 38
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year.
The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria.
This increased the NASD Unlisted Securities Index (NSI) by 2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was increased by N3 billion on a week-on-week to finish at N1.143 trillion compared with the preceding week’s N1.140 trillion.
Food Concepts Plc led the price gainers’ after it rose by 10.1 per cent to N1.53 per share from N1.39 per share, UBN Property Plc appreciated by 9.9 per cent to finish at N1.22 per unit versus the preceding week’s N1.11 per unit, and Acorn Petroleum Plc gained 8.8 per cent to wrap the week at 37 Kobo per share versus 34 Kobo per share.
Further, Industrial and General Insurance (IGI) Plc grew by 8.7 per cent to end at 25 Kobo per unit compared with the earlier week’s 23 Kobo per unit, Aradel Holdings Plc improved by 6.3 per cent to close at N600.00 per share versus N564.71 per share, and Geo-Fluids Plc rose by 2.5 per cent to N2.90 per unit from N2.83 per unit.
Conversely, three companies found their stocks losing value, with NASD Plc leading after it shed 9.1 per cent to N11.50 per unit from N12.65 per unit, First Trust Microfinance Bank Plc dropped 8.5 per cent to trade at 43 Kobo per share compared with 47 Kobo per share, and FrieslandCampina Wamco Plc lost 4.9 per cent to close at N72.20 per unit versus the previous week’s N75.90 per unit.
Last week, the total volume of stock traded surged by 508.0 per cent to 28.7 million units from 4.7 million units, the value of transactions increased by 25.7 per cent to N142.39 million from N113.26 million, while the number of deals rose by 3.30 per cent to 94 deals, in contrast to the 91 deals executed in Week 37.
At the close of the week, Aradel Plc was the most traded stock by value with N52.6 million, Geo-Fluids Plc traded N44.8 million, Central Securities Clearing System (CSCS) Plc exchanged N26.02 million, UBN Property Plc transacted N11.21 million while FrieslandCampina Wamco Plc traded N3.10 million.
In terms of the volume of trades in the week, Geo-Fluids Plc topped with 15.5 million units, UBN Property Plc followed with 10.09 million units, CSCS Plc posted 1.49 million units, First Trust Microfinance Bank Plc recorded 0.74 million units while Acorn Petroleum Plc closed the week transacting 0.26 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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