Economy
NGX Trading Indices Maintain Downward Trend by 0.09%
By Dipo Olowookere
The downward trend witnessed lately at the Nigerian Exchange (NGX) Limited remained on Thursday after the key performance indicators further went down by 0.09 per cent.
Profit-taking in the banking sector was mainly the reason the domestic stock market fell yesterday, as investor rebalanced their portfolios and looked forward to next week when the inflation numbers will be released by the National Bureau of Statistics (NBS).
The banking index depreciated during the session by 1.35 per cent, the consumer goods sector lost 0.10 per cent, and the industrial goods counter went down by 0.01 per cent, while the energy sector grew by 1.34 per cent and the insurance space increased by 0.18 per cent.
Business Post reports that the All-Share Index (ASI) decreased on Thursday by 47.82 points to 52,161.24 points from 52,209.06 points, while the market capitalisation depleted by N26 billion to N28.402 trillion from N28.428 trillion.
A total of 477.4 million stocks worth N5.2 billion were traded by investors yesterday in 5,539 deals compared with the 554.3 million stocks worth N6.0 billion traded in 5,168 deals on Wednesday, indicating an increase in the number of deals by 7.18 per cent, a decline in the trading volume and value by 13.87 per cent and 13.33 per cent apiece.
Access Holdings was the most actively traded stock with a turnover of 169.3 million units valued at N1.7 billion, UBA traded 102.1 million units worth N819.3 million, Fidelity Bank exchanged 30.8 million units for N179.7 million, GTCO sold 30.4 million units valued at N730.9 million, and Zenith Bank traded 16.8 million units worth N404.4 million.
Investor sentiment remained strong amid the troubles as the market breadth closed positive with 22 price gainers and 20 price losers led by FCMB, which dwindled by 5.66 per cent to N4.00.
Access Holdings depreciated by 3.77 per cent to N10.20, Sterling Bank shrank by 3.53 per cent to N1.64, Neimeth declined by 3.33 per cent to N1.45, and Royal Exchange slumped by 3.33 per cent to 58 Kobo.
On the flip side, Ardova topped the advancers’ log after its price rose by 10.00 per cent to N24.20, NCR Nigeria improved by 9.87 per cent to N2.56, Multiverse also gained 9.87 per cent to end at N4.12, MRS Oil jumped by 9.84 per cent to N30.70, and CWG moved up by 9.77 per cent to N1.91.
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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