Economy
Nigerian Stocks Crash as Polls Postponement Triggers Fresh Fears
By Dipo Olowookere
Stock market indices depreciated on Monday following the postponement of the 2019 general elections by one week last Saturday.
This triggered sell pressure on the Nigerian Stock Exchange (NSE), forcing it to close 1.61 percent lower in the first trading day of the week.
Investors had hoped to start getting a clear picture of who will likely be the President of Nigeria by the time market reopens on Monday, but that expectation was dashed by the Independent National Electoral Commission (INEC), which shifted the polls in the wee hours of Saturday.
By the time market resumed yesterday, most investors began to sell off their holdings due to the uncertainty caused by the shift.
It was observed that losses were recorded by some big players in the stock market, with Total Nigeria suffering the heaviest, losing N15 to close at N190 per share.
Mobil Oil fell by N14 to settle at N170 per share, while Nigerian Breweries declined by N8 to finish at N75 per share.
GTBank lost N1.45k to end at N36.50k per share, while CCNN went down by N1 to settle at N20 per share.
At the other side, Nestle emerged the biggest price gainer, going up by N35 to close the day at N1600 per share.
It was followed by Beta Glass, which rose by N6.70k to settle at N79 per share, and Presco, which appreciated by N6.60k to end at N72.60k per share.
CAP appreciated by N2.20k to settle at N34 per share, while Dangote Flour increased its share value by 45 kobo to finish at N9.60k per share.
During transactions yesterday, the total volume and value of shares traded by investors decreased by 71.13 percent and 48.15 percent respectively.
A total of 233.5 million equities worth N3.4 billion were traded in 4,135 deals on Monday in contrast to the 808.6 million shares worth N6.5 billion transacted last Friday in 6,177 deals.
Access Bank was the darling of investors yesterday, trading 25.3 million units of its shares valued at N160.2 million.
It was followed by Chams, which sold 21.7 million units worth N4.3 million, and UBA, which transacted 20.5 million shares for N157.2 million.
Zenith Bank exchanged 15.7 million shares worth N375.3 million, while GTBank transacted 13.9 million equities worth N519.1 million.
An analysis of the major market indices showed that the All-Share Index (ASI) depreciated by 525.13 points to settle at 32,190.07 points, while the market capitalisation reduced by N196 billion to close at N12.004 trillion.
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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