Economy
Nigerian Stocks Sustain Growth by 0.87%
By Dipo Olowookere
The nation’s equity market ended the last trading day of the year 2019 in green on Tuesday, December 31 on the back of persistent buying interest from investors.
The market, during the session, appreciated by 0.87 percent to reduce the year-to-date loss to 14.60 percent as traders rebalanced their portfolios in preparation of the forthcoming earnings season.
Access Bank brought that feeling to the market when it announced a closed period as well as a board meeting fixed for later this month to consider and approve its full year financial statements for 2019.
Business Post observed that investors mopped up more stocks at the market, triggering a 175.22 percent rise in the trading volume to 1.1 billion units from 382.8 million units traded in the previous session. However, the value of the transactions reduced by 23.52 percent to N5.5 billion from N7.2 billion.
The huge transactions recorded at the market on Tuesday was buoyed by Omoluabi Mortgage Bank, which sold 796.5 million units of its stocks worth N438.1 million during the trading day.
Access Bank traded 47.3 million shares worth N471.4 million, UBA exchanged 37.4 million equities valued at N267.7 million, Zenith Bank transacted 29.8 million shares for N554.0 million, while Dangote Cement exchanged 16.8 million stocks worth N2.4 billion.
An analysis of the performance of stocks during the session showed that Seplat emerged as the biggest price gainer, rising by N59.80 to finish at N657.80 per share, while Stanbic IBTC gained N2 to end at N41 per unit.
Lafarge Africa appreciated by N1.30 to settle at N15.30 per share, GTBank rose by 70 kobo to close at N29.70 per unit, while Okomu Oil appreciated by 60 kobo to finish at N55.60 per unit.
At the other side, Nigerian Breweries was the heaviest price loser, depreciating by 75 kobo to close at N59 per share, UPDC Reit went down by 45 kobo to settle at N4.25 per share.
FBN Holdings dropped 20 kobo to close at N6.15 per share, Dangote Sugar also reduced by 20 kobo to trade at N13.60 per share, while Africa Prudential depreciated by 18 kobo to close at N4 per share.
When the market closed for the year, the All-Share Index (ASI) on the last day increased by 232.73 points to 26,842.07 points from 26,609.34 the previous day, while the market capitalisation grew by N112 billion to N12.958 trillion from N12.846 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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