Economy
Nigeria Exchange Soars 1.45% on Solid Q3 Results
By Dipo Olowookere
The first trading session at the Nigerian Exchange (NGX) Limited ended bullish on Monday with a 1.45 per cent growth inspired by sustained buying pressure.
Investors showed renewed interest in the local stock market as a result of the solid third-quarter earnings of companies listed on the trading platform.
It was observed that traders were mopping up shares of organisations across the sectors and categories in anticipation of higher return on investment in the coming weeks.
Analysis of the data from the bourse indicated that 45 equities were on the price gainers’ log and 16 stocks finished on the losers’ chart, representing a positive market breadth and a strong investor sentiment.
Northern Nigerian Flour Mills closed as the best-performing stock yesterday after it grew its value by 10.00 per cent to N18.15, and Chellarams rose by 9.77 per cent to N3.82. UAC Nigeria improved by 9.54 per cent to N14.35, NAHCO gained 9.45 per cent to trade at N26.05, and The Initiates increased by 9.43 per cent to N1.16.
On the flip side, Meyer lost 9.87 per cent to finish at N2.74, Abbey Mortgage Bank declined by 9.71 per cent to close at N1.86, Regency Assurance fell by 8.33 per cent to 33 Kobo, RT Briscoe fell by 6.00 per cent to 47 Kobo, and Jaiz Bank depleted by 5.95 per cent to N1.58.
Business Post reports that apart from the energy index which closed flat, every other sector ended in the green territory, with the industrial goods space rising by 2.99 per cent.
Further, the banking sector improved by 1.20 per cent, the insurance counter appreciated by 0.86 per cent, and the consumer goods space increased by 0.44 per cent.
Consequently, the All-Share Index (ASI) jumped by 975.13 points to 68,111.71 points from 67,136.58 points and the market capitalisation grew by N536 billion to N37.421 trillion from N36.885 trillion.
The market was very busy on Monday, with the trading volume, value and the number of deals growing by 100.93 per cent, 59.62 per cent and 43.77 per cent, respectively.
Investors transacted 430.4 million shares worth N8.3 billion in 7,656 deals compared with the 214.2 million shares worth N5.2 billion transacted in 5,325 deals in the preceding trading session.
Universal Insurance closed the day as the busiest stock after it traded 94.3 million units for N23.1 million, UBA sold 51.3 million units for N1.0 billion, Custodian Investment transacted 33.3 million units valued at N242.0 million, Transcorp exchanged 32.5 million units worth N200.9 million, and Zenith Bank traded 24.4 million units valued at N818.5 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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