Economy
NGX Rallies by 0.30% on Buy Interest in Financial Stocks
By Dipo Olowookere
Buy interest in financial stocks further buoyed the Nigerian Exchange (NGX) Limited by 0.30 per cent on Monday as investors look forward to half-year results of firms on the platform.
The domestic equity market appreciated during the session despite the National Bureau of Statistics (NBS) revealing that inflation in June increased by 34.19 per cent amid soaring prices of food items.
Stock traders were not deterred as they maintained their bargain-hunting posture, leaving the All-Share Index (ASI) higher at 99,971.64 points compared with the preceding day’s 99,671.28 points, indicating an increase of 300.36 points. The market capitalisation grew by N170 billion to close at N56.611 trillion versus last Friday’s value of N56.441 trillion.
The banking counter appreciated by 1.32 per cent and the insurance index expanded by 0.08 per cent, while the consumer goods, energy, and industrial goods sectors depreciated by 0.05 per cent, 0.04 per cent, and 0.02 per cent, respectively.
During the session, 29 equities ended on the gainers’ chart and 15 equities closed on the losers’ log, representing a strong investor sentiment and a positive market breadth index.
Cutix rose by 9.96 per cent to N5.08, Ikeja Hotel appreciated by 9.45 per cent to N6.95, Royal Exchange gained 8.96 per cent to finish at 73 Kobo, Sunu Assurances improved by 8.40 per cent to N1.29, and Red Star Express surged by 8.15 per cent to N4.38
Conversely, Chellarams declined by 9.76 per cent to N3.70, Abbey Mortgage Bank weakened by 7.04 per cent to N2.51, Jaiz Bank dropped 5.78 per cent to N2.12, Ellah Lakes plunged by 5.36 per cent to N3.00, and International Breweries slumped by 4.20 per cent to N3.88.
A total of 362.4 million shares worth N7.4 billion were transacted in 8,405 deals yesterday versus the 420.9 million shares valued at N6.8 billion traded in 7,617 deals last Friday, implying a decline in the trading volume by 13.90 per cent, and a growth in the trading value and number of deals by 8.82 per cent and 10.35 per cent, respectively.
The busiest stock for the trading session was GTCO, which commenced its public offer on Monday, selling 66.9 million units valued at N3.1 billion. Access Holdings exchanged 44.5 million units worth N854.4 million, FCMB transacted 26.7 million units valued at N203.1 million, Japaul sold 21.5 million units worth N41.7 million, and UAC Nigeria traded 20.3 million units for N287.8 million.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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.
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