Economy
Nigerian Equity Market Witnesses Low Weekly Turnover
By Dipo Olowookere
The Nigerian equity market witnessed a low turnover last week, with just 840.3 million shares worth N9.6 billion traded in 13,239 deals as against the 1.4 billion shares worth N15.9 billion transacted a week earlier in 18,459 deals.
Business Post reports that the major reason for this low trading volume in the week was due to the two-day holiday observed in the country on Wednesday and Thursday to mark the end of the holy month of Ramadan and commemorate the Eid al-Fitr celebrations. This meant that the market only operated for three days.
But this did not tamper with the key performance indicators of the bourse as the All-Share Index and market capitalisation appreciated by 0.72 per cent to close at 39,481.89 points and N20.579 trillion respectively.
Similarly, all other indices finished higher with the exception of the sovereign bond index, which depreciated by 10.69 per cent, while the ASeM and growth indices closed flat.
In the week, investors sustained their appetite for financial stocks, accounting for 541.0 million units worth N5.5 billion traded in 7,824 deals.
This signified that shares in this category contributed 64.38 per cent and 57.45 per cent to the total trading volume and value respectively.
Equities in the ICT sector recorded 90.4 million units valued at N571.6 million in 500 deals, while shares in the conglomerates industry posed a turnover of 84.8 million units worth N512.8 million in 551 deals.
In terms of individual stocks, Access Bank, Zenith Bank and eTranzact were the most active with 284.9 million units valued at N3.5 billion transacted in 2,533 deals, contributing 33.91 per cent and 36.29 per cent to the total trading volume and value respectively.
A total of 33 equities appreciated in price during the week, higher than 31 in the previous week, while 19 equities depreciated in price lower than 37 equities in the previous week, with 108 equities closing flat, higher than 92 equities of the preceding week.
Consolidated Hallmark Insurance was the best-performing stock with a price appreciation of 25.64 per cent to close at 49 kobo.
ABC Transport gained 19.35 per cent to sell for 37 kobo, Africa Prudential rose by 17.12 per cent to trade at N6.50, Royal Exchange grew by 16.92 per cent to sell for 76 kobo, while NEM Insurance gained 14.92 per cent to close at N2.08.
On the flip side, the worst-performing stock was Academy Press as its share value went down by 10.00 per cent to 36 kobo, followed by Chams, which dropped 9.09 per cent to quote at 20 kobo.
Japaul lost 8.33 per cent to trade at 55 kobo, Sterling Bank depreciated by 6.92 per cent to close at N1.48, while Okomu Oil declined by 6.31 per cent to trade at N96.50.
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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