Economy
NDEP Pulls Down NASD Index by 1.09% on Wednesday
By Adedapo Adesanya
After 10 consecutive sessions without any movement in the key market indicators, the NASD Over-the-Counter (OTC) Securities Exchange closed in the red territory on Wednesday, March 4.
One of the main drivers for this was the poor performance put up by the stock of Niger Delta Exploration and Production (NDEP) Plc, which was the lone decliner at the midweek session.
At the close of trading, the oil and gas investment company had its share price going down by N30.11 or 10.3 percent to N293.00 per share from N323.11 per share it previously traded.
This led the NASD Unlisted Securities Index (NSI) depreciating by 1.09 percent or 7.6 points to 692.79 points from 700.39 points, while the market capitalisation fell by 1.08 percent or N5.46 billion to N498.09 billion from N503.55 billion.
However, the total volume of shares transacted by investors during the session rose by 63 percent or 133,273 units to 343,873 units from the 210,600 units on Tuesday.
Following the similar pattern was the total value of stocks transacted at the NASD Exchange, which increased for the third consecutive session by 18 percent equivalent to N5.84 million to N39.0 million from N33.2 million.
Also, at the end of the day, the number of deals executed by market participants improved by 67 percent or four deals. The total number of stocks traded yesterday was 10 deals compared with six deals of the previous session.
A breakdown of these deals by Business Post showed that FrieslandCampina Wamco Nigeria recorded five deals, NDEP Plc had two deals, while Nipco Plc, Central Securities Clearing System (CSCS) Plc, and Mixta Real Estate Plc all carried out single deal each.
ARM Life Plc remained as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion traded so far. CSCS Plc was in second place with 12.4 million units traded at N141.6 million, while the day’s decliner, NDEP Plc, has sold 5.9 million units valued at N1.8 billion.
In terms of the most traded stock by value (year-to-date), ARM Life Plc maintained the top spot with 7.4 billion units of its shares traded for N4.6 billion, while NDEP Plc trailed after selling 5.9 million units worth N1.8 billion, with CSCS Plc transacting 12.4 million units of its shares worth N141.6 million.
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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