Economy
NGX Index Rebounds by 0.02% Amid Weak Investor Sentiment
By Dipo Olowookere
Transactions on the floor of the Nigerian Exchange (NGX) Limited closed bullish on Wednesday, though investor sentiment remained weak as a result of the hike in the anchor interest rate to 15.5 per cent a day earlier.
The stock market rebounded by 0.02 per cent due to fresh bargain hunting in industrial goods and energy shares during the session, leaving the respective indices to close higher by 1.10 per cent and 0.34 per cent.
The duo overturned the 1.01 per cent, 0.09 per cent and 0.05 per cent losses printed by the banking, consumer goods and insurance sectors, respectively.
At the close of trades, the All-Share Index (ASI) moved up by 10.25 points to 49,171.70 points from 49,161.45 points, while the market capitalisation grew by N14 billion to N26.531 trillion from N26.517 trillion.
A total of seven equities ended on the gainers’ log yesterday, while 20 stocks landed on the losers table led by Japaul, which crashed by 10.00 per cent to 27 Kobo. Royal Exchange fell by 9.80 per cent to 92 Kobo, Consolidated Hallmark Insurance deflated by 8.62 per cent to 53 Kobo, RT Briscoe depleted by 8.57 per cent to 32 Kobo, while Fidson dropped 7.54 per cent to trade at N9.20.
Conversely, Chams improved its value by 8.00 per cent to 27 Kobo, Ardova gained 7.42 per cent to trade at N13.75, Sovereign Trust Insurance rose by 3.57 per cent to 29 Kobo, BUA Cement increased by 3.07 per cent to N52.00, while Jaiz Bank grew by 2.70 per cent to 76 Kobo.
Yesterday, investors transacted 101.6 million shares worth N1.2 billion in 3,981 deals in contrast to the 206.2 million shares worth N2.4 billion traded in 3,679 deals in the preceding session.
This showed that the volume of transactions went down by 50.74 per cent, the value of trades decreased by 49.29 per cent, while the number of deals increased by 8.21 per cent.
GTCO sold the highest number of stocks in the midweek session, 14.3 million units valued at N259.0 million and was trailed by Zenith Bank, which sold 11.6 million units valued at N228.9 million. FBN Holdings exchanged 6.3 million units worth N61.2 million, Transcorp traded 6.2 million units for N6.3 million, while Chams traded 5.7 million units worth N1.5 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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