Economy
Nigerian Stocks Extend Losses by 0.79%
By Dipo Olowookere
Profit-taking activities on the floor of the Nigerian Stock Exchange (NSE) on Wednesday further plunged the market in the negative territory.
The local bourse finished the session with a 0.79 percent decline, leaving the year-to-date return at -15.14 percent.
The day’s loss was mainly due to the poor performances of Dangote Cement and some other large-cap stocks.
At the close of transactions, the All-Share Index (ASI) went down by 257.62 points to settle at 32,454.03 points, while the market capitalisation reduced by N94 billion to finish at N11.848 trillion.
Dangote Cement, which topped the losers’ chart yesterday, lost N4.90k of its share value to close at N200.10k per share.
It was trailed by Nigerian Breweries, which fell by N2.50k to settle at N89 per share, and Unilever Nigeria, which crashed by N1 to end at N46 per share.
FBN Holdings reduced by 10 kobo to settle at N9.10k per share, while UBA also fell by 10 kobo to close at N8.30k per share.
On the flip side, Nestle Nigeria put up a good performance, resulting into the N1 the stock gained to close at N1400 per share.
Dangote Sugar appreciated by 60 kobo to end at N14.50k per share, while Zenith Bank rose by 30 kobo to finish at N21.80k per share.
Cutix increased its share price by 20 kobo to close at N4.30k per share, while GTBank also appreciated by 20 kobo to end at N36.70k per share.
Business Post reports that it was a busy day for financial stocks at the market on Wednesday, accounting for 120.8 million shares exchanged for N661 million, while the consumer goods stocks followed with 4 million units sold for N542 million.
FCMB emerged the most traded stock at the market yesterday as investors continued to offload the shares with others ready to acquire them. The lender sold 38.4 million units of its shares yesterday for N65.7 million.
This was followed by UBA, which traded 20.8 million units worth N172.5 million, and Fidelity Bank, which exchanged 19.2 million equities valued at N35.3 million.
Access Bank transacted 7.9 million shares for N64.2 million, while Zenith Bank exchanged 6.7 million equities worth N145.8 million.
At the end of the day, the volume and value of shares traded at the market on Wednesday fell by 25.93 percent and 57.72 percent respectively.
A total of 136.7 million shares worth N1.4 billion exchanged hands in 2,801 deals yesterday compared with the 184.6 million equities transacted the previous day in 2,889 deals valued at N3.4 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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