Economy
Nigerian Stocks’ YtD Return Now 34.38% After Midweek’s 0.43% Gain
By Dipo Olowookere
A 0.43 per cent growth recorded by the Nigerian Exchange (NGX) Limited on Wednesday has now moved the platform’s year-to-date (YtD) return to 34.38 per cent.
It has been a roller coaster for the local stock market in 2024, but it has remained strong amid the tough macroeconomic environment caused by inflation and the exchange rate crisis.
Yesterday, Customs Street performed well after almost all the key sectors experienced buying pressure, with only the industrial goods space closing flat.
Business Post reports that the insurance sector appreciated by 3.16 per cent, the banking index gained 0.68 per cent, the energy industry leapt by 0.33 per cent, and the consumer goods counter soared by 0.08 per cent.
At the close of business, the All-Share Index (ASI) was up by 426.52 points to 100,477.46 points from 100,050.94 points and the market capitalisation increased by N258 billion to N60.908 trillion from N60.650 trillion it ended a day earlier.
During the midweek session, a total of 42 equities ended on the gainers’ chart and 18 equities closed in red, representing a positive market breadth index and strong investor sentiment.
MRS Oil surged by 9.99 per cent to N159.70, Learn Africa chalked up 9.97 per cent to N3.53, International Energy Insurance rose by 9.77 per cent to N1.46, Coronation Insurance grew by 9.74 per cent to N1.69, and Livestock Feeds gained 9.73 per cent to sell for N3.72.
On the flip side, Africa Prudential lost 10.00 per cent to settle at N14.40, John Holt declined by 9.96 per cent to N6.51, Guinea Insurance slipped by 8.33 per cent to 66 Kobo, Deap Capital tumbled by 5.26 per cent to N1.08, and Consolidated Hallmark deflated by 4.17 per cent to N2.30.
Yesterday, the market participants traded 389.7 million shares worth N9.2 billion in 9,573 deals versus the 478.1 million shares valued at N22.5 billion transacted in 9,578 deals on Tuesday, implying a decline in the trading volume, value and number of deals by 18.49 per cent, 59.11 per cent and 0.05 per cent, respectively.
Sterling Holdings topped the activity log with 43.6 million stocks valued at N216.7 million, UBA traded 26.2 million equities worth N874.9 million, Fidelity Bank sold 25.7 million shares for N398.4 million, Universal Insurance exchanged 18.5 million stocks worth N6.8 million, and AIICO Insurance transacted 16.2 million equities valued at N21.6 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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