Economy
Nigerian Stock Market Loses N416b in One Week amid Political Anxiety
By Dipo Olowookere
The heating up of the political terrain in the country is gradually having a negative effect on the Nigerian stock market, Business Post reports.
During the just-concluded trading week, the Nigerian Stock Exchange (NSE) lost about N416 billion as a result of huge selling pressure at the market.
Analysts had predicted that trading during the week would be positive as a result of improving macroeconomic indices in the domestic space, especially with the further ease in the inflation rate, positive GDP growth, passage of the 2018 budget and retention of the interest at 14 percent by the apex bank.
However, these did nothing to drive the equity market up last week as the stock market did not record any single rise throughout last week.
This was attributed to profit-taking activities by investors, especially foreign investors, who are parts of the major drivers of the local bourse. It was observed that foreign investors are reassessing their portfolio compositions so as to limit their losses as a result of political intrigues in the country ahead of the 2019 general elections.
Business Post reports that at the close of transactions last week, the All-Share Index (ASI) depreciated by 2.84 percent to settle at 39,323.62 points, while the market capitalization decreased by N416 billion to finish at N14.244 trillion against its previous close of N14.660 trillion.
During the week also, a total of 14 equities appreciated in price, lower than 20 in the previous week, while 61 stocks depreciated in price, higher than 54 equities of the previous week, and 94 counters remained unchanged, lower than 95 recorded in the preceding week.
A total turnover of 1.372 billion shares worth N16.022 billion in 21,099 deals were traded last week by investors on the floor of the exchange in contrast to a total of 1.457 billion shares valued at N23.666 billion that exchanged hands the previous week in 19,674 deals.
It was further observed that the Financial Services Industry, measured by volume, led the activity chart with 1.010 billion shares valued at N8.670 billion traded in 12,049 deals; thus contributing 73.62 percent and 54.11 percent to the total equity turnover volume and value respectively.
The Services Industry followed with 107.246 million shares worth N229.715 million in 712 deals, while the third place was occupied by Consumer Goods Industry with a turnover of 71.946 million shares worth N5.506 billion in 3,818 deals.
Trading in the top three equities; Zenith Bank, African Alliance Insurance Company and Ikeja Hotel, measured by volume, accounted for 276.876 million shares worth N2.939 billion in 2,112 deals, contributing 20.18 percent and 18.35 percent to the total equity turnover volume and value respectively.
The top gainer for the week was Ikeja Hotels, which rose by 44.94 percent to settle at N2.58k per share.
It was followed by MRS Oil Nigeria, which appreciated by 21.18 percent to finish at N36.05k per share, and Law Union and Rock Insurance, which increased by 20.99 percent to close at 98k per share.
Niger Insurance grew by 19.05 percent to end at 25k per share, while Consolidated Hallmark Insurance increased by 11.11 percent to finish at 30k per share.
On the flip side, Eterna closed the week as the worst performing stock after shedding 22.27 percent of its value to close at N5.27k per share.
It was trailed by Japaul Oil, which went down by 20 percent to end at 24k per share, and Dangote Flour, which decreased by 16.82 percent to close at N8.90k per share.
Transcorp declined by 16.35 percent to close at N1.33k per share, while AIICO Insurance fell by 16.18 percent to end at 57k per share.
Also traded during the week were a total of 70 units of Exchange Traded Products (ETPs) valued at N1,943.00 executed in 7 deals, compared with a total of 153,246 units valued at N4.009 million that was transacted in the preceding week in 22 deals.
In addition, a total of 10,754 units of Federal Government bonds valued at N11.412 million were traded during the week in 5 deals, compared with a total of 7,508 units valued at N7.506 million transacted in the previous week in 12 deals.
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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