Economy
Nigerian Stocks Rebound by 0.09% as Oppositions Call for Calm
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.09 per cent on Friday after going through a two-day selling pressure after the Presidential Election Petitions Tribunal on Wednesday upheld the victory of President Bola Tinubu in the presidential election of February 25, 2023.
Before the judgement, there had been tension in the country, with the military and the police threatening to deal with dissenting voices.
The fear gripped stock investors, influencing their decision to book profit. But after the main opposition parties, the Peoples Democratic Party (PDP) and the Labour Party (LP) said they would appeal the judgement at the Supreme Court, urging their supporters to remain calm, the bourse bounced back on Friday.
Bargain-hunting in financial and industrial goods equities supported the growth achieved during the session.
At the close of business, the consumer goods counter rose by 0.18 per cent, the industrial goods sector appreciated by 0.16 per cent, and the banking index grew by 0.14 per cent.
However, the insurance counter depreciated by 0.43 per cent, and the energy counter closed flat despite renewed interest in Oando shares.
Business Post reports that the All-Share Index (ASI) increased yesterday by 61.23 points to 68,143.34 points from 68,082.11 points, and the market capitalisation improved by N33 billion to close at N37.295 trillion versus Thursday’s closing value of N37.262 trillion.
At the exchange, investor sentiment was very strong after Customs Street ended with 30 price advancers and 17 price laggards, indicating a positive market breadth index.
Oando topped the gainers’ chart after its price rose by 10.00 per cent to N7.70, CWG gained 9.89 per cent to N5.78, Neimeth appreciated by 9.80 per cent to N1.68, Ikeja Hotel increased by 8.93 per cent to N3.05, and Cutix jumped by 8.05 per cent to N2.55.
Conversely, Chellarams topped the losers table after it fell by 9.94 per cent to N2.90, Omatek shed 9.38 per cent to 58 Kobo, ABC Transport went down by 8.13 per cent N1.13, Thomas Wyatt depreciated by 7.83 per cent to N2.00, and Red Star Express declined by 7.42 per cent to N2.87.
The busiest equity was FCMB as it traded 116.9 million units valued at N791.4 million, Access Holdings transacted 36.3 million units worth N631.8 million, Oando traded 34.2 million units valued at N260.2 million, UBA exchanged 34.2 million units worth N521.6 million, and Fidelity Bank sold 34.1 million units for N297.4 million.
At the close of business, investors traded 483.5 million shares valued at N8.3 billion in 6,660 deals on the last trading session of the week compared with the 378.1 million shares worth N8.4 billion traded in 8,106 deals a day earlier, showing an increase in the trading volume by 27.88 per cent, a decline in the trading valued by 1.19 per cent, and a drop in the number of deals by 17.84 per cent.
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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