Economy
NSE Index Gains 2.88% to Slice Year-to-Date Loss to 3.86%
By Dipo Olowookere
The local equity market extended its rally on Tuesday with a 2.88 percent appreciation to further reduce the year-to-date loss to 3.86 percent.
Gains recorded by MTN Nigeria and Dangote Cement influenced the positive performance reported by the Nigerian Stock Exchange (NSE).
It was observed that some investors, as expected, are buying up some fundamentally sound stocks presently trading at their 52-weeks lows as a result of the frenzy around MTN Nigeria, which further rose by 9.98 percent yesterday.
At the close of transactions on Tuesday, the gains posted by MTN Nigeria, Dangote Cement and 14 other stocks pushed the All-Share Index (ASI) back to the 30,000 psychological mark, while the market capitalisation went returned to the N13 trillion region.
Business Post reports that while the ASI increased by 844.74 points to 30,218.14 points from 29,373.40 points of the previous session, the market capitalisation appreciated by N372 billion to settle at N13.310 trillion in contrast to N12.938 trillion in the previous day.
During market yesterday, a total of 20 counters depreciated in value against the 16 price risers, which left the market breadth negative despite the improvement in the major indicators.
MTN Nigeria topped the gainers’ table with N11.95k added to its share price to close for the day at N131.70k per share.
Dangote Cement appreciated by N7 to finish at N185 per unit, while Forte Oil rose by N2.25k to finish at N27.80k per share.
GTBank improved yesterday by 90 kobo to close at N31.30k per unit, while Africa Prudential gained 34 kobo to end at N3.94k per share.
At the other end, Unilever Nigeria dominated the loser’s table after losing N1 from its opening price to close for the day at N31 per share.
Custodian Investment followed with a decline of 50 kobo to finish at N6 per share, with GlaxoSmithKline also going down by 50 kobo to end at N8.50k per unit.
Nigerian Breweries lost 35 kobo yesterday to close at N62.15k per unit, while Juli depreciated by 16k to finish at N1.51k per share.
During trading on Tuesday, the volume of shares traded increased by 56.51 percent from 214.4 million to 335.6 million, while the value also appreciated by 116.66 percent from N7.9 billion to N17.2 billion
MTN Nigeria maintained its position on the activity with a turnover of 110.7 million shares sold for N14.6 billion.
It was trailed by FBN Holdings, which traded 31.4 million units worth N219.4 million, and Sterling Bank, which exchanged 26.1 million equities valued at N60.2 million.
GTBank transacted 23.9 million shares for N743.5 million, while Transcorp sold 21.2 million equities for N26.2 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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