Economy
Profit-Takers Crash Stock Exchange by N152bn to N66.717trn
By Dipo Olowookere
The local stock exchange depreciated by 023 per cent on Friday after profit-takers pounced on the market, selling off some equities as part of their portfolio rebalancing strategy.
Data showed that the energy sector was the most affected as it closed lower by 0.09 per cent, with the other sectors ending in the green territory.
The insurance index appreciated by 1.27 per cent, the consumer goods counter improved by 0.42 per cent, and the banking space grew by 0.12 per cent, while the industrial goods and commodity sectors closed flat.
At the close of transactions, the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited shrank by 242.12 points to 106,538.60 points from 106,780.72 points and the market capitalisation was trimmed by N152 billion to N66.717 trillion from the previous day’s N66.869 trillion.
Despite the loss, the market breadth index was positive, with 34 price gainers and 18 price losers, representing strong investor sentiment.
Eterna and Guinea Insurance lost 10.00 per cent each to trade at N37.80 and 63 Kobo apiece, FCMB declined by 7.61 per cent to N9.10, Caverton shed 5.80 per cent to finish at N2.60, and ABC Transport eased by 5.06 per cent to N1.50.
Conversely, Livestock Feeds gained 9.87 per cent to settle at N8.35, Honeywell Flour grew by 9.80 per cent to N13.45, Eunisell jumped by 9.69 per cent to N10.75, May and Baker appreciated by 9.66 per cent to N7.95, and Tantalizers soared by 9.28 per cent to N2.59.
Yesterday, the number of deals carried out by the market participants increased by 4.05 per cent to 11,911 deals from 11,447 deals, the volume of transactions went down by 7.05 per cent to 349,2 million shares from 375.7 million shares, and the value of trades retreated by 4.90 per cent to N9.7 billion from N10.2 billion.
Zenith Bank was the busiest equity at the bourse during the session after it transacted 42.2 million units for N2.0 billion, Fidelity Bank traded 35.9 million units worth N624.7 million, Access Holdings exchanged 31.5 million units valued at N746.9 million, UBA sold 24.0 million units worth N897.8 million, and Tantalizers traded 23.1 million units worth N59.2 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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