Economy
Profit-Takers Halt Local Stock Market’s Winning Streak With 0.35% Loss
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited could not stretch its gains to five consecutive trading days on Wednesday after it suffered a 0.35 per cent loss.
The winning streak was halted at the midweek session by profit-takers, who felt it was time to sell off some equities that have fetched them some yields in the past trading sessions.
This was reflected in the sectorial performance yesterday as all the key sectors of the bourse finished in the red zone, with the insurance counter shedding 1.13 per cent.
Further, the banking space went down by 0.89 per cent, the energy index depreciated by 0.66 per cent, the consumer goods sector slumped by 0.24 per cent, and the industrial goods sector declined by 0.02 per cent.
Consequently, the All-Share Index (ASI) decreased by 336.26 points to close at 96,537.48 points compared with the previous day’s 96,873.74 points and the market capitalisation dwindled by N193 billion to quote at N55.454 trillion versus Tuesday’s closing value of N55.647 trillion.
It was a weak investor sentiment on Wednesday after the stock exchange ended with 21 price gainers and 33 price losers, implying a negative market breadth index.
Oando crashed by 10.00 per cent yesterday to sell for N81.90, The Initiates lost 9.95 per cent to trade at N1.81, RT Briscoe depleted by 9.72 per cent to N2.60, Secure Electronic Technology fell by 9.23 per cent to 59 Kobo, and Omatek dropped 9.09 per cent to 70 Kobo.
On the flip side, DAAR Communications gained 10.00 per cent to close at 66 Kobo, Industrial and Medical Gases expanded by 9.72 per cent to N35.00, Deap Capital improved by 9.52 per cent to N1.15, Tantalizers rose by 8.47 per cent to 64 Kobo, and Caverton jumped by 6.82 per cent to N1.41.
Business Post reports that the level of activity was lower than the preceding session, with the trading volume, value and the number of deals going down by 17.72 per cent, 21.15 per cent, and 3.93 per cent, respectively.
This was because traders transacted 389.2 million stocks worth N8.2 billion in 12,039 deals compared with the 473.0 million stocks valued at N10.4 billion traded in 12,532 deals a day earlier.
Oando was the busiest equity for the session with a turnover of 37.2 million units valued at N3.1 billion, Universal Insurance traded 33.7 million units for N12.7 million, Transcorp exchanged 29.0 million units valued at N321.8 million, FTN Cocoa transacted 22.7 million units worth N35.1 million, and GTCO sold 22.0 million units for N1.0 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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