Economy
Nigerian Exchange Erases Previous Day’s Loss With 0.13% Growth
By Dipo Olowookere
The nation’s stock exchange reversed the loss posted on Tuesday to close higher by 0.13 per cent on Wednesday on the back of renewed bargain hunting by investors.
The positive outcome was partly triggered by the release of the audited financial statements of Ecobank to the market yesterday, with a significant number of cross deals witnessed at the close of business.
The All-Share Index (ASI) increased during the session by 61.39 points to close at 46,904.48 points compared with the previous day’s 46,843.09 points, while the market capitalisation went up by N33 billion to finish at N25.279 trillion in contrast to N25.246 trillion it ended on Tuesday.
Business Post reports that despite the growth achieved at the midweek session, the market breadth remained negative as there were 16 price losers and 17 price gainers.
The duo of Ikeja Hotel and Cornerstone Insurance gained 10.00 per cent each to close at N1.32 and 66 kobo respectively, while Eterna rose by 9.82 per cent to N5.48, Meyer increased by 9.09 per cent to 60 kobo, and Chams improved by 5.00 per cent to 21 kobo.
On the flip side, Cadbury Nigeria suffered the heaviest loss with a decline of 6.67 per cent to settle at N8.40, Japaul lost 5.88 per cent to trade at 32 kobo, PZ Cussons depleted by 5.36 per cent to N10.60, Royal Exchange fell by 5.22 per cent to N1.09, while Coronation Insurance decreased by 4.17 per cent to 46 kobo.
It was observed that the sectorial performance was mixed on Wednesday with the banking, consumer goods and industrial goods sectors declining by 0.60 per cent, 0.15 per cent and 0.03 per cent respectively, and the insurance and energy counters growing by 0.62 per cent and 0.27 per cent respectively.
As for the activity chart, it was also mixed as the trading value rose by 46.39 per cent, while the trading volume and the number of deals depreciated by 6.09 per cent and 2.62 per cent respectively.
A total of 201.3 million shares valued at N2.6 billion exchanged hands yesterday in 4,017 deals in contrast to the 214.3 million shares worth N1.8 billion transacted in 4,125 deals on Tuesday.
Ecobank was the most active stock at the market on Wednesday as it traded 61.9 million units valued at N742.0 million, followed by Access Holdings, which sold 29.5 million units worth N294.9 million.
Zenith Bank transacted 15.8 million equities for N361.8 million, Fidelity Bank exchanged 11.4 million shares for N35.6 million, while Transcorp traded 9.8 million stocks worth N9.8 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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