Economy
NSE Index Sheds 0.17% as Investors Await Buhari’s Economic Direction
Dipo Olowookere
The first trading day on the floor of the Nigerian Stock Exchange (NSE) after President Muhammadu Buhari was sworn in for a second term in office yesterday ended bearish.
Business Post reports that the stock market depreciated by 0.17 percent on Thursday as investors embarked on profit-taking and wait to hear how the President intends to run his administration in the next four years.
During his inauguration on Wednesday, President Buhari failed to deliver any speech. It was said that the speech is to be delivered on June 12, 2019, when the country will mark Democracy Day.
At the close of transactions today, the All-Share Index (ASI) decreased by 52.81 points to settle at 31,254.19 points, while the market capitalisation reduced by N23 billion to end at N13.766 trillion.
Despite the loss printed by the market today, the market breadth finished positive with 20 price gainers and 19 price losers.
Dominating the top gainers’ chart on Thursday was Nestle Nigeria, rising by N4.50k to finish at N1454.50k at the sound of the closing gong.
MTN Nigeria gained N3.45k to settle at N136 per share, while Stanbic IBTC improved by 75 kobo to end at N43 per share.
UBA and Julius Berger appreciated by 35 kobo each to close at N6.60k and N23.85k per unit respectively.
At the other side, Unilever Nigeria claimed the top spot on the losers’ table after going down by N2.70k to finish at N31 per unit.
Dangote Cement went down by N1.80k to settle at N199.80k per share, while Forte Oil depreciated by N1.10k to end at N26.90k per unit.
GTBank declined by N1 to end at N32 per share, while Ecobank depreciated by 95 kobo to settle at N11.15k per share.
During trading today, the activity level was mixed as the volume of shares transacted rose by 9.44 percent from 344.3 million to 376.8 million, while the value depleted by 18.97 percent from N7.3 billion to N5.9 billion.
Union Diagnostic & Clinical Services led the activity chart today with a turnover of 43.4 million units sold for N10.4 million.
UBA exchanged 42.6 million shares worth N280.2 million, while Zenith Bank transacted 39.1 million equities valued at N803.8 million.
Access Bank traded 34.4 million shares for N220.1 million, while Law Union and Rock Insurance sold 29.6 million shares worth N14.2 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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