Economy
NGX Closes Mixed as Index Loses 0.14%, Market Cap Gains 0.19%
By Dipo Olowookere
The two key performance indicators of the Nigerian Exchange (NGX) Limited moved in opposite directions on Friday as the benchmark index lost 0.14 per cent and the value of the bourse went up by 0.19 per cent.
The total of Customs Street increased during the last trading day of the week by N130 billion to N68.752 trillion from the N68.622 trillion it ended on Thursday due to the listing of additional 6.83 billion ordinary shares of UBA Plc from its N239.4 billion rights issue sold at N35.00 per unit.
However, for the trading session, the All-Share Index (ASI) was down by 155.31 points to 109,028.62 points from the 109,183.93 points recorded a day earlier.
Profit-taking in the insurance and industrial goods sectors crumbled the market yesterday as their respective index closed lower by 0.66 per cent and 0.04 per cent.
But, the consumer goods space grew by 1.54 per cent, the energy counter gained 0.63 per cent, the banking index went up by 0.38 per cent, and the commodity industry increased by 0.30 per cent.
Investor sentiment was strong on Friday, with 27 appreciating stocks and 20 depreciating stocks, representing a positive market breadth index.
Northern Nigeria Flour Mills declined by 9.97 per cent to N118.70, Transcorp Hotels depreciated by 9.95 per cent to N138.50, Learn Africa weakened by 9.89 per cent to N4.01, Legend Internet tumbled by 9.52 per cent to N7.60, and Sovereign Trust Insurance lost 8.57 per cent to close at 96 Kobo.
On the flip side, Red Star Express gained 10.00 per cent to quote at N6.71, University Press jumped by 9.82 per cent to N4.36, ABC Transport climbed higher by 9.69 per cent to N2.49, McNichols improved by 9.05 per cent to N2.29, and Lasaco Assurance leapt by 8.47 per cent to N2.69.
The level of activity was lower yesterday as the trading volume, value, and number of deals decreased by 61.04 per cent, 4.23 per cent and 38.57 per cent apiece.
The market participants traded 637.5 million shares worth N18.1 billion in 15,927 deals compared with the 1.6 billion shares valued at N18.9 billion in 25,927 deals on Thursday.
Tantalizers exchanged 145.1 million equities for N384.5 million, Fidelity Bank traded 85.6 million stocks valued at N1.6 billion, Nigerian Breweries transacted 47.5 million shares worth N2.6 billion, UBA sold 45.2 million equities valued at N1.5 billion, and GTCO traded 29.4 million stocks worth N2.1 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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
