Economy
NGX Trading Indices Remain Upbeat by 0.27%
By Dipo Olowookere
The trading indices of the Nigerian Exchange (NGX) Limited remained upbeat on Thursday by 0.27 per cent on the back of persistent bargain-hunting, especially in stocks with sound fundamentals.
This was reflected in the mood of the market as investor sentiment finished strongly as traders await the release of half-year earnings of companies on the stock exchange, particularly the dividend-paying ones.
There were 42 price gainers during the trading day and 21 price losers, indicating a positive market breadth index.
University Press topped the group of advancers after it chalked up 10.00 per cent to close at N2.42, as Eunisell Interlinked gained 9.97 per cent to quote at N3.20. Academy Press increased by 9.95 per cent to N2.43, Chellarans rose by 9.91 per cent to N2.33, and Ikeja Hotel grew by 9.38 per cent to N2.80.
On the flip side, Courteville received a haircut of 9.86 per cent to 64 Kobo, FTN Cocoa shrank by 9.66 per cent to N1.87, Abbey Mortgage Bank deflated by 9.49 per cent to N1.24, May and Baker declined by 9.17 per cent to N5.45, and UPDC lost 8.55 per cent to close at N1.07.
All the key sectors of the bourse performed well yesterday, with the insurance space outshining by 1.19 per cent. The banking index grew by 0.59 per cent, the energy counter appreciated by 0.41 per cent, the consumer goods sector improved by 0.30 per cent, and the industrial goods index went up by 0.01 per cent.
This lifted the All-Share Index (ASI) higher by 173.49 points to 63,930.72 points from 63,757.23 points and raised the market capitalisation by N95 billion to N34.811 trillion from N34.716 trillion.
Business Post reports that UBA traded 961.5 million shares worth N13.3 billion on Thursday to lead the activity chart, followed by Sterling Holdings, which traded 43.7 million stocks valued at N159.0 million. FBN Holdings sold 40.3 million equities for N720.1 million, Japaul exchanged 36.0 million stocks worth N28.0 million, and Universal Insurance transacted 35.1 million equities valued at N8.3 million.
At the close of trades, investors bought and sold 1.4 billion shares worth N18.1 billion in 7,179 deals yesterday versus the 473.5 million shares worth N10.1 billion transacted in 7,403 deals on Wednesday, implying a decline in the number of deals by 3.03 per cent, and growth in the trading volume and value by 187.01 per cent and 79.21 per cent apiece.
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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