Economy
NASD OTC Market Capitalisation Hits Year High of N538.52bn
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 28 continued its positive run into the new week as the unlisted securities market reached its highest point since the beginning of the year.
At the session, the total value of equities trading on the bourse increased by 0.07 per cent or N400 million to N538.52 billion from N538.12 billion.
This appreciation was boosted by a bellwether stock, FrieslandCampina WAMCO Nigeria Plc, which recorded another jump in price. The milk producer moved up further by 41 kobo or 0.3 per cent to N137.91 per share from N137.50 per share it closed last Friday.
Business Post had reported that following the progress towards the expansion of the company, its stock price rose by 5.5 per cent last week. The company is buying the milk business of PZ Cussons and this deal is aimed to give more value to shareholders.
At the close of transactions on Monday, the NASD Unlisted Security Index (NSI) rose by 0.07 per cent or 0.54 points to 733.11 points from 732.57 points of the previous session.
On the activity chart, there was a significant rise in the total volume of securities traded on Monday by investors by 645.7 per cent as a total of 37,284 stocks exchanged hands as against the 5,000 units of securities transacted at the last session.
These trades came from seven deals executed on three stocks during the session, with FrieslandCampina accounting for five deals, while UBN Properties Plc and Central Securities Clearing Systems (CSCS) Plc accounted for one deal each.
At the preceding session, only a single deal was executed by investors, indicating a 600 per cent increase in the number of deals yesterday.
At the close of transactions, the total value of the trades carried out at the market on Monday increased by 508.4 per cent to N4.2 million from N687,500.
ARM Life Plc still maintained its position on the activity chart on Monday, closing as the most active stock by volume (year-to-date) after trading 7.4 billion units of its shares worth N4.6 billion.
CSCS Plc was in second place with 203 million units worth N2.7 billion, while Food Concepts Plc held the third position with 128.1 million units of its shares worth N90.2 million.
Equally, ARM Life Plc remained the company with the highest value of stocks traded by investors since the beginning of the trading year for selling 7.4 billion units of securities worth N4.6 billion.
Niger Delta Exploration and Production (NDEP) Plc followed with 8.8 million units valued at N2.7 billion, while CSCS Plc has traded 203 million units valued at N2.7 billion.
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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