Economy
NGX Index Weakens by 0.43% as Traders Book Profit
By Dipo Olowookere
The gains recorded by the Nigerian Exchange (NGX) Limited on Tuesday were reversed on Wednesday by 0.43 per cent following profit-taking by investors.
It was observed that traders sold off shares in the banking and industrial goods sectors, leading to a respective decline of 0.2 per cent and 0.01 per cent.
As a result, the All-Share Index (ASI) was weakened by 288.69 points to 66,482.28 points from 66,770.97 points and the market capitalisation fell by N158 billion to settle at N36.386 trillion compared with the preceding day’s N36.544 trillion.
Business Post reports that there were pockets of bargain-hunting in the midweek session, as the insurance space rose by 0.28 per cent, the consumer goods counter improved by 0.18 per cent, while the energy index closed flat.
Analysis of the day’s price movement chart showed that investor sentiment was strong despite the loss by the bourse, as there were 29 price gainers and 22 price losers, representing a positive market breadth index.
Wema Bank and Ikeja Hotel were the heaviest price losers, shedding 10.00 per cent each to N4.23 and N3.15 apiece. ABC Transport lost 8.86 per cent to trade at 72 Kobo, Royal Exchange declined by 8.00 per cent to 46 Kobo, and Consolidated Hallmark Insurance decreased by 5.60 per cent to N1.18.
On the flip side, Oando recorded the biggest price growth as it moved up by 9.88 per cent to N9.45, Red Star Express gained 9.81 per cent to close at N2.91, Tripple Gee appreciated by 9.68 per cent to N2.38, RT Briscoe jumped by 9.43 per cent to 58 Kobo, and Universal Insurance grew by 9.09 per cent to 24 Kobo.
Yesterday, investors traded 657.5 million stocks worth N4.6 billion in 6,646 deals compared with the 364.3 million stocks worth N3.9 billion traded in 7,537 deals on Tuesday, representing a decline in the number of deals by 11.82 per cent, and an increase in the trading volume and value by 80.48 per cent and 17.95 per cent apiece.
Universal Insurance was the busiest on Wednesday after transacting 336.3 million shares valued at N80.5 million, Fidelity Bank traded 31.7 million equities valued at N264.9 million, Consolidated Hallmark Insurance exchanged 25.1 million shares valued at N29.4 million, GTCO traded 24.6 million stocks worth N885.4 million, and Wema Bank sold 24.0 million equities for N103.8 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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