Economy
Nigerian Stocks Struggle for Direction, Drop 0.96%
By Dipo Olowookere
Transactions on the floor of the Nigerian Stock Exchange (NSE) remained bearish on Thursday following persisted selling pressure.
Also, the level of activities remain weak yesterday as some investors remain on the sidelines, waiting to get things running fully from next week.
At the close of the trading session, the stock market was down by 0.96 percent with a year-to-date loss of 2.10 percent.
In addition, the volume of trades went down by 21.09 percent, while the value of transactions reduced by 27.79 percent.
Business Post reports that a total of 169.2 million shares worth N1.1 billion were exchanged by investors yesterday compared with the 214.4 million worth N1.6 billion traded the previous day.
More shares of Diamond Bank were sold on Thursday at the market, recording a turnover of 52 million units worth N107.2 million.
Transcorp exchanged 12.8 million equities valued at N15.6 million, while Access Bank exchanged 11.3 million units of its stock to end at N71.4 million.
Furthermore, FCMB sold 9.8 million equities worth N16.5 million, while Zenith Bank exchanged 7.4 million shares valued at N168.7 million.
On the price movement chart, Forte Oil topped the gainers’ table with a rise of N2.70k to settle for the day at N30.70k per share.
It was followed by Julius Berger, which went up by N1.15k to finish at N23.25k per share, and Union Bank, which appreciated by 45 kobo to close at N6.05k per share.
Nigerian Breweries grew by 40 kobo to settle at N78.70k per share, while Vitafoam appreciated by 17 kobo to quote at N4.99k per share.
At the other side, Stanbic IBTC emerged as the highest price loser after shedding N1.95k to finish at N46 per share.
GTBank followed with a N1.55k loss to finish at N32.95k per share, while GlaxoSmithKline went down by N1.45k to end at N13.05k per share.
CCNN depreciated by 95 kobo to settle at N18.45k per share, while CAP dropped 85 kobo to close at N34 per share. By the time the stock exchange closed on Thursday, the All-Share Index (ASI) decreased by 298.74 points to settle at 30,771.32 points, while the market capitalisation dropped N111 billion to finish at N11.475 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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