Economy
Nigerian Stock Market Extends Losses to Third Trading Session
By Dipo Olowookere
The downward trajectory on the floor of the Nigerian Stock Exchange (NSE) continued on Wednesday as a result of persistent selloff.
This made it the third consecutive trading session the market was closing in the red zone this week as investors await the release of half year earnings of companies quoted on the stock exchange later this month.
At the close of transactions yesterday, the local bourse finished 0.28 percent lower with the Year-to-Date (YtD) returns standing at -1.95 percent.
Also, the All-Share Index (ASI) reduced by 106.05 points to settle at 37,499.07 points, while the market capitalisation decreased by N38 billion to finish at N13.584 trillion.
However, the volume of shares traded on Wednesday by investors increased by 96.49 percent as well as the value of trades, which went up by 18.08 percent.
A total of 505.7 million shares were traded yesterday in 3,906 deals valued at N3.1 billion compared with the 257.4 million equities worth N2.7 billion transacted the previous day.
However, unlike the past sessions, where the financial stocks dominate trades at the NSE, equities in the Natural Resources sector led the activity chart yesterday with a total of 200 million units of shares in the sector exchanged for N40 billion.
The Financial Services followed with 136.5 million shares transacted for N1.8 billion.
Like in the previous day, shares of Multiverse Resources were the most traded at the market on Wednesday with a total of 200 million units sold for N40 million.
It was followed by NAHCO, which traded 125.1 million units for N747.3 million, and GTBank, which sold 28.4 million units at N1.1 billion.
Access Bank exchanged 18.9 million shares worth N195.4 million, while FCMB traded 13.9 million equities valued at N30.8 million.
On the price movement chart, shares of Nestle Nigeria suffered the heaviest loss after going down by N10 to lead the laggards’ table, closing at N1500 per share yesterday.
It was followed by Unilever Nigeria, which depreciated by N3.75k to close at N51.25k per share, and Nigerian Breweries, which fell by N2.90k to settle at N111 per share.
Forte Oil went down by N2.90k to end at N26.10k per share, while Conoil declined by N2.50k to close at N27.50k per share.
Conversely, Eterna Oil led the gainers’ chart on Wednesday after adding 50 kobo to its share value to close at N7 per share.
GTBank gained 40 kobo to end at N40 per share, while Zenith Bank garnered 30 kobo to settle at N24.30k per share.
May & Baker appreciated yesterday by 20 kobo to close at N2.25k per share, while FCMB also increased by 20 kobo to finish at N2.28k per share.
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
