Economy
Nigerian Exchange Nears 100,000-point Threshold Again After 0.55% Gain
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited gained 0.55 per cent on Monday on the back of sustained bargain-hunting activities by investors, which took the bourse closer to the 100,000-point threshold.
Customs Street has crossed 100,000 points more than three times this year, but profit-taking activities by investors have always been the pullback.
In January, it crossed the psychological mark only to fall below the next month and then crossed again in March and crumbled in April.
This continued till June, when it went past 100,000 point and faltered the next month but picked itself up in the same month and going down again in July. It has remained below the threshold from the seventh month of 2024 till now.
On the first trading session of this week, the All-Share Index (ASI) increased by 544.57 points to 99,922.63 points from 99,378.06 points and the market capitalisation jumped by N330 billion to close at N60.572 trillion compared with the preceding session’s N60.242 trillion.
The day ended with 35 price gainers and 25 price losers, representing a positive market breadth index and strong investor sentiment.
Royal Exchange and Living Trust Mortgage Bank gained 10.00 per cent each to quote at 66 Kobo and N3.30 apiece, International Breweries grew by 9.90 per cent to N4.55, Guinea Insurance rose by 9.84 per cent to 67 Kobo, and Caverton expanded by 9.60 per cent to N2.17.
Conversely, University Press shed 9.81 per cent to settle at N3.77, Haldane McCall declined by 9.62 per cent to N4.70, International Energy Insurance slumped by 9.52 per cent to N1.33, ABC Transport shrank by 8.70 per cent to N1.05, and Sovereign Trust Insurance weakened by 8.24 per cent to 78 Kobo.
During the trading day, investors traded 740.9 million shares valued at N16.9 billion in 10,430 deals compared with the 544.2 million shares worth N10.6 billion traded in 8,464 deals last Friday, implying a surge in the trading volume, value, and number of deals by 36.15 per cent, 59.43 per cent and 23.23 per cent, respectively.
The most active stock for the session was Sterling Holdings with 197.0 million units sold for N955.5 million, Wema Bank transacted 150.5 million units valued at N1.3 billion, eTranzact exchanged 70.1 million units worth N473.2 million, Tantalizers traded 57.3 million units for N101.2 million, and Access Holdings transacted 20.5 million units valued at N491.9 million.
Business Post reports that the bears and the bulls battled for the control of the market yesterday, with the former grabbing three of the five key sectors of the bourse at the close of transactions.
The insurance space lost 0.96 per cent, the banking index went down by 0.06 per cent, and the energy counter decreased by 0.02 per cent.
However, the consumer goods sector improved by 1.24 per cent, and the industrial goods industry went up by 0.09 per cent.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn

Pingback: Daily Business Headlines – DECEMBER 17, 2024 – Alpha Morgan Capital Managers Limited