Economy
Nigerian Stock Market Closes 0.10% Lower Tuesday
By Dipo Olowookere
Despite the market breadth closing positive with 17 prices gainers and nine price losers on Tuesday, the Nigerian Stock Exchange (NSE) went down by 0.10 percent.
Business Post observed that the decline was caused by the poor performance put up by stocks in the consumer goods sector. The industry’s gauge depreciated by 2.17 percent yesterday.
Two of the other remaining four major sectors at the exchange closed positive, while the two others finished flat at the close of transactions.
The banking index rose by 1.27 percent, while the insurance followed with a 0.33 percent growth, with the energy and industrial goods sectors closing flat.
Nestle Nigeria was the day’s highest price loser. The stock went down by N49.90 to close at N1150 per unit, while MTN Nigeria followed with a N1.55 loss to finish at N124 per share.
Guinness Nigeria fell by 55 kobo to close at N23.30 per unit, UAC Property depreciated by 10 kobo to end at 97 kobo per share, while Honeywell Flour declined by 6 kobo to settle at 98 kobo per unit.
On the flip side, Stanbic IBTC closed at the highest price gainer after adding N2 to its share price to settle at N39 per unit, while Ecobank trailed with a price appreciation of 50 kobo to finish at N7 per share.
The trio of Access Bank, Zenith Bank and FBN Holdings gained 20 kobo each to close at N8.30, N17.35 and N5.50 respectively.
The level of activity was mixed on Tuesday with the volume of shares traded by investors decreasing by 17.36 percent to 304.3 million from 368.2 million, but the value of the transactions rising by 44.20 percent to N4.0 billion from N2.8 billion.
Law Union and Rock was the most active stock at the market yesterday. Investors traded 70.4 million units of the insurance company’s stocks for N29.6 million, while UBA followed with 51.8 million units sold for N335.4 million.
Zenith Bank exchanged 50.4 million shares valued at N877.1 million, GTBank transacted 26.0 million equities for N678.0 million, while Guinness Nigeria sold 18.8 million shares worth N438.6 million.
At the close of business, the All-Share Index (ASI) reduced by 25.71 points to close at 26,375.35 points against the previous day’s 26,401.06 points, while the market capitalisation decreased by N122.5 billion to finish at N12.839 trillion in contrast to N12.852 trillion it was on Monday.
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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