Economy
Nigerian Stocks Extend Losses to Three as Negative Sentiments Persist
By Modupe Gbadeyanka
Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed on a bearish note on Thursday, making it the third day in a row the stock exchange was recording losses this week as a result of continued selloffs of some high cap stocks at the market.
The weakening of the local bourse has been influenced by investor sentiment towards the market, which has remained bearish in the absence of any significant market information to arouse any buying interest.
Though the depreciation recorded by the stock market yesterday was marginal, 0.07 percent, it left the year-to-date gain at -2.66 percent.
While the All-Share Index reduced by 26.81 points to close at 37,226.44 points, the market capitalisation shed N10 billion to finish at N13.485 trillion.
Business Post reports that at wrap of transactions, the local bourse finished with a total of 16 gainers and 28 price losers.
Beta Glass emerged as the highest price loser yesterday after losing N9.10k of its share value to finish at N81 per share.
Forte Oil declined by N1.10k to settle at N30.20k per share, while Nigerian Breweries depreciated by 80 kobo to close at N110.20k per share.
Dangote Sugar decreased by 50 kobo to end at N17 per share, while GlaxoSmithKline went down by 45 kobo to close at N18.55k per share.
On the flip side, International Breweries topped the gainers’ chart on Thursday, adding N2.15k to its share price to settle at N40.50k per share.
It was followed by Dangote Cement, which went up by N2 to close at N227 per share, and Lafarge, which grew by 60 kobo to end at N34.50k per share.
Custodian Investment appreciated by 53 kobo to close at N6.80k per share, while Stanbic IBTC flourished by 50 kobo to end at N51.50k per share.
The volume of transactions recorded at the market yesterday increased by 22.08 percent just as the value of trades went up by 22.85 percent.
The market recorded a total of 350.5 million shares exchanging hands on Thursday in 3,228 deals worth N4.6 billion in contrast to the 287.1 million shares sold on Thursday in 3,526 deals valued at N3.6 billion.
The Financial Services sector led the activity chart with 179.9 million equities exchanged for N1.9 billion and was followed by the Services industry, which recorded the sale of 88.6 million shares valued at N484 million.
NAHCO emerged the most traded stock yesterday, selling a total of 88.1 million shares valued at N483.5 million.
It was followed by Access Bank, which sold 42.9 million equities traded for N428.8 million, and Zenith Bank, which exchanged 40.8 million shares valued at N980.2 million.
Sovereign Trust Insurance transacted 33.8 million for N7 million, while International Breweries traded 21 million equities worth N777 million.
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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