Economy
Nigerian Stocks Close Last Day of H1 2018 Positive, Gain 1.44%
By Dipo Olowookere
The last trading day of the first half of 2018 on the floor of the Nigerian Stock Exchange (NSE) ended on a positive note with the market bouncing back with 1.44 percent growth, pushing the Year-to-Date (YtD) returns back to the green territory to close at 0.09 percent
At the close of business last Friday, June 29, 2018, the All-Share Index (ASI) increased by 545.11 points to settle at 38,278.55 points, while the market capitalisation appreciated by N197 billion close at N13.866 trillion.
Business Post reports that the volume of shares traded by investors increased by 13.11 percent, while the value of transactions went up by 30.64 percent.
A total of 469.3 million shares were transacted last Friday in 3,355 deals worth N5.8 billion in contrast to the 414.9 million equities exchanged last Thursday valued at N4.5 billion.
These trades were dominated by financial stocks, which exchanged 362.1 units worth N4.6 billion, while the Natural Resources equities followed with 71.4 million units sold for N14 million.
Wema Bank emerged the most active stock, trading 171.3 million shares valued at N120 million.
It was followed by GTBank, which traded 75.1 million equities worth N3 billion, and Multiserve, which exchanged 71.4 million units valued at N14.3 million.
Zenith Bank sold 50.5 million shares valued at N1.3 billion, while Fidelity Bank transacted 20.9 million shares for N47.4 million.
On the price movement chart, the top five advancers chart was led by Nestle Nigeria, which gained N73.90k to close at N1575 per share.
It was followed by Total Nigeria, which went up by N9.50k to finish at N210 per share, and Dangote Cement, which increased by N4 to close at N229 per share.
Nigerian Breweries grew by N3.20k to end at N114.20k per share, while Stanbic IBTC appreciated by N2 to settle at N52 per share.
On the flip side, Forte Oil emerged the day’s biggest loser after shedding N1.20k of its share value to close at N32.85k per share.
It was trailed by Lafarge, which went down by N1.05k to finish at N40.95k per share, and Flour Mill of Nigeria, which fell by 20 kobo to end at N32 per share.
Honeywell Flour declined by 12 kobo to finish at N2.29k per share, while FCMB depreciated by 11 kobo to settle at N2.18k 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.
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