Economy
Nigerian Exchange Records 0.01% Marginal Growth as Momentum Slows
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited posted a marginal growth of 0.01 per cent on Friday as market participants slightly placed their foot on the brake pedal.
Business Post observed a pocket of profit-taking at the bourse yesterday, though this did not affect the general outcome of the market because of the gains recorded by most of the sectors.
Data revealed that during the trading session, the industrial goods counter lost 0.93 per cent, and the banking sector depreciated by 0.13 per cent.
However, the insurance index improved by 1.33 per cent, the energy industry climbed higher by 0.80 per cent, the commodity space gained 0.51 per cent, and the consumer goods sector advanced by 0.24 per cent.
Consequently, the All-Share Index (ASI) slightly rose by 12.46 points to 120,989.66 points from 120,977.20 points, while the market capitalisation declined by N244 billion due to the delisting of the shares of Notore Chemical Industries, closing at N76.339 trillion compared with Thursday’s N76.583 trillion.
A total of 40 stocks closed in green yesterday and 27 stocks ended in red, indicating a positive market breadth index and strong investor sentiment.
Champion Breweries and John Holt chalked up 10.00 per cent each to sell for N13.20 and N7.70 apiece, Red Star Express appreciated by 9.99 per cent to N8.37, Academy Press improved by 9.98 per cent to N6.17, and UPDC also gained 9.98 per cent to trade at N4.74.
On the flip side, Ellah Lakes, and PZ Cussons depreciated by 10.00 per cent each to N8.10 and N32.40 apiece, Japaul declined by 9.70 per cent to N2.70, Royal Exchange shed 9.49 per cent to close at N1.24, and McNichols lost 8.85 per cent to finish at N2.78.
On Customs Street, investors traded 923.9 million equities worth N11.0 billion in 25,680 deals versus the 933.4 million equities valued at N29.3 billion exchanged in 24,207 deals in the preceding day, indicating a rise in the number of deals by 6.09 per cent, and a decline in the trading volume and value by 1.02 per cent and 62.46 per cent, respectively.
The most active stock on Friday was Japaul with 147.1 million units valued at N421.6 million, Coronation Insurance sold 44.5 million units for N94.6 million, Access Holdings exchanged 43.6 million units worth N984.3 million, Consolidated Hallmark transacted 42.8 million units valued at N122.4 million, and Chams traded 42.0 million units for N107.9 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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