Economy
Nigerian Stocks Rise as Q3 GDP Growth Thrills Investors
By Dipo Olowookere
Equities trading on the floor of the Nigerian Stock Exchange (NSE) closed on a positive note on Monday as investors, with glad tidings, received news of the growth recorded in Nigeria’s Gross Domestic Product (GDP) in the third quarter of this year.
Data released by the National Bureau Statistics (NBS) this morning revealed that the country’s GDP increased by 1.4 percent last quarter, making it the second consecutive positive growth since the emergence of the economy from recession in the second quarter of 2017.
Business Post reports that this development left transactions on the NSE to improve today by 0.24 percent, leaving the year-to-date return to stand at 36.90 percent.
The All-Share Index (ASI) increased by 89.02 points to settle at 36,792.60 points, while the market capitalisation grew by N30.98 billion to close at N12.81 trillion.
Also, at the close of business today, the market breadth ended positive with 17 price gainers and 15 price losers.
Nestle emerged the highest price gainer on Monday with N4.87k added to its share value to close at N1255.90k per share.
It was closely trailed by PZ Cussons, which rose by N2.30k to finish at N24.79k per share, and NASCON, which advanced by N1.39k to end at N15.89k per share.
Zenith Bank increased by 86k to finish at N24.98k per share, while Dangote Sugar improved by 62k to end at N14.95k per share.
But at the other end, Forte Oil was the biggest price loser, shedding N4.73k to settle at N43.89k per share.
It was followed by International Breweries, which fell by 95k to close at N50.85k per share, and Unilever, which depreciated by 50k to end at N37 per share.
GTBank declined by 40k to finish at N42.60k per share, while Nigerian Breweries went down by 30k to close at N138.50k per share.
Our correspondent reports that Custodian and Allied was investors’ toast today, exchanging 40.5 million shares worth N151.7 million.
FBN Holdings sold 27.5 million shares for N190 million, while Fidelity Bank traded 23.5 million shares at N37.5 million.
Diamond Bank exchanged 16.9 million shares worth N19.4 million, and Zenith Bank transacted 12.8 million shares valued at N319 million.
At the close of transactions on Monday, investors traded a total of 208.7 million shares worth N2.5 billion in 2,993 deals against 1.8 billion shares traded last Friday in 3,097 deals valued at N6.3 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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