Economy
NSE: Banking Stocks Lead Market Recovery with 1.60% Surge
By Dipo Olowookere
For the first time in 12 successive trading sessions, the Nigerian Stock Exchange (NSE) finished in the green territory on Monday, June 4, 2018, putting a halt to the 11th consecutive losing streak at the market, which started last month.
The equity market closed 0.37 percent higher yesterday despite year-to-date returns remaining in the danger zone at -3.38 percent.
Business Post reports that positive sentiment prevailed on the stock market on Monday as a result of bargain hunting embarked upon by investors, who bought shares that had lost a significant amount of value during the bear days, but have good prospects of yielding good returns later, especially stocks in the banking space and those in the oil and gas sector. However, profit-taking activities were still observed at the Consumer Goods industry.
At the close of transactions on Monday, the All-Share Index (ASI) rose by 134.69 points to settle at 36,950.98 points, while the market capitalization increased by N49 billion to finish at N13.385 trillion.
Also, the banking index finished 1.60 percent higher, while the oil and gas index went up by 0.33 percent. However, the insurance sector depreciated by 0.89 percent, while the industrial industry lost 1.12 percent, and the Consumer Goods space slightly went down by 0.02 percent.
The market breadth ended yesterday at equilibrium with 21 price gainers and losers each with Nigerian Breweries’ shares growing by N3 to close at N106 per share.
GTBank followed with N1.75k added to its share value to finish at N40.40k per share, while Mobil Oil Nigeria went up by N1.50k to settle at N166 per share.
Furthermore, Zenith Bank increased by 50k to close at N26 per share, while FBN Holdings rose by 35k to end at N10.50k per share.
Conversely, Presco led the losers’ chart after losing N3.75k of its share price at the market yesterday to finish at N71.25k per share.
It was trailed by International Breweries, which went down by N1.20k to end at N39 per share and PZ Cussons, which depreciated by N1.05k to settle at N20.80k per share.
Cadbury Nigeria fell by N1 on Monday to close at N11.50k per share, while Flour Mills of Nigeria also decreased by N1 to finish at N30.10k per share.
The volume and value of equities traded on the floor of the NSE yesterday depreciated by 39.16 percent and 2.26 percent respectively with GTBank, Sovereign Trust Insurance, FBN Holdings, Diamond Bank and Zenith Bank leading the activity chart by volume.
Business Post reports that the Financial Services sector led the activity chart with 259.3 million shares exchanged for N3.7 billion, while the Consumer Goods sector followed with 25.5 million equities sold for N2.4 billion.
At the end of the day, a total of 314.4 million shares worth N7 billion exchanged hands on Monday in 6,016 deals in contrast to the 516.8 million equities transacted last Friday valued at N7.2 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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