Economy
NNFM, Dangote Sugar Lift Customs Street by 0.09%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 0.09 per cent on Thursday on the back of renewed investor confidence on the local stocks.
The market had been under selling pressure since last Friday but things changed yesterday after bargain-hunting activities helped Customs Street record its first gain of this week.
Data showed that the industrial goods index gained 1.39 per cent, the banking space appreciated by 0.22 per cent, and the consumer goods counter expanded by 0.20 per cent.
However, the energy sector went down yesterday by 2.49 per cent, and the insurance industry depreciated by 1.27 per cent at the close of business.
When the market closed by 2:30 pm, the All-Share Index (ASI) increased by 87.11 points to 102,183.06 points from 102,095.95 points and the market capitalisation jumped by N53 billion to N62.310 trillion from N62.257 trillion.
Business Post observed that despite the growth during the session, investor sentiment remained bearish as the bourse finished with 26 price losers and 35 price gainers, implying a negative market breadth index.
Northern Nigerian Flour Mills improved its value by 10.00 per cent on Thursday to N54.45, Dangote Sugar soared by 9.91 per cent to N40.50, The Initiates rose by 9.80 per cent to N2.80, John Holt expanded by 9.80 per cent to N9.30, and Omatek grew by 9.76 per cent to 90 Kobo.
On the flip side, Livestock Feeds declined by 10.00 per cent to N5.40, Eunisell slumped by 9.97 per cent to N15.62, Neimeth tumbled by 9.83 per cent to N3.12, Regency Alliance lost 9.33 per cent to trade at 68 Kobo, and Honeywell Flour depreciated by 9.26 per cent to N9.21.
Yesterday, GTCO was the busiest equity with a turnover of 65.1 million units worth N3.8 billion, Universal Insurance traded 48.6 million units valued at N28.5 million, Fidelity Bank sold 45.9 million units for N802.8 million, Access Holdings exchanged 27.3 million units worth N668.1 million, and NASCON transacted 26.7 million units valued at N1.1 billion.
At the close of transactions, a total of 472.2 million equities worth N16.7 billion exchanged hands in 12,336 deals compared with the 435.5 million equities valued at N9.4 billion traded in 12,098 deals on Wednesday, showing an improvement in the trading volume, value and number of deals by 8.47 per cent, 77.66 per cent and 1.97 per cent, respectively.
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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