Economy
Nigerian Stock Market Remains in Danger Zone as YtD Stays at -7.73%
By Dipo Olowookere
The Nigerian Stock Exchange (NSE) ended Tuesday’s trading in the red territory again for the seventh consecutive session, losing 0.31 percent.
News of the shareholder agreement signed by Seplat yesterday was not enough to provide the needed bullish trigger today as selling pressure persist.
Business Post reports that the banking sector was the most hit at the stock market today, losing 1.06 percent at the close of market.
At the close of transactions on Tuesday, August 14, 2018, the Nigerian stock market, which gained over 42 percent last year, has lost 7.73 percent this year.
Today, the All-Share Index (ASI) decreased by 111.05 points to settle at 35,288.23 points, while the market capitalisation reduced by N45 billion to finish at N12.883 trillion.
Like the previous day, the market breadth ended negative with 34 equities depreciating in value against the 13 appreciating stocks.
Flour Mills of Nigeria topped the losers log on Tuesday after declining by N2 to settle for the day at N22 per share.
UAC of Nigeria followed with a loss of N1.35k to finish at N12.65k per share, while Berger Paints went down by 75 kobo to end at N7.20k per share.
Northern Nigeria Flour Mills depreciated by 70 kobo to close at N6.50k per share, Eterna Oil also fell by 70 kobo to settle at N6.50k per share.
Conversely, International Breweries emerged the biggest price gainer after growing by N1.75k to close at N35.20k per share.
NASCON increased by 55 kobo to settle at N20.50k per share, while Custodian Investment rose by 51 kobo to finish at N5.64k per share.
Unilever Nigeria appreciated by 40 kobo to end at N53 per share, while UAC Property went up by 10 kobo to close at N1.90k per share.
The Financial Services sector topped the activity chart on Tuesday, accounting for 72 percent of total volume traded, while the Consumer Goods sector followed, accounting for 7.10 percent of the total turnover volume.
United Bank for Africa (UBA) emerged the most traded equity, selling 26.9 million units worth N250.7 million.
LASACO Insurance followed with 12.2 million equities sold for N3.7 million, while FBN Holdings exchanged 11.5 million shares valued at N108.9 million.
Fidelity Bank sold 8.3 million units worth N14.3 million, while GTBank transacted 7.5 million shares valued at N289.7 million.
In all, the total volume of shares traded at the floor of the exchange on Tuesday increased by 2.54 percent to 164.5 million units of stocks from 160.4 million, while the value reduced by 27.19 percent to N1.6 billion from N2.2 billion.
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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