Economy
Profit Takers Push Stock Market Down by N124
By Dipo Olowookere
The local equity market tripped on Tuesday by 0.96 percent, thanks to activities of profit takers on the floor of the Nigerian Stock Exchange (NSE).
The market was quiet as investors carefully watched wish stock to cash in on as a result of price appreciation at the equity market in the last few days.
This led to the stock market posting a loss of N124 billion at the close business today, with the major market indices pointing south.
The All-Share Index (ASI) depreciated by 358.87 points to settle at 36,953.41 points, while the market capitalisation declined by N124.2 billion.
Also, the market breadth closed negative today after it recorded a total of 12 price gainers and 32 price losers.
The declining stocks were led by Nestle, which went down by N40 or 3.10 percent to close at N1250 per share.
It was followed by Guinness Nigeria, which lost N2.1k or 1.97 percent of its share value to close at N100 per share, and Unilever, which slumped by N2 or 5 percent to finish at N38 per share.
Lafarge decreased by N1.45k or 2.82 percent to end at N50 per share, while Dangote Cement also went down by N1.45k or 0.61 percent to close at N236.55k per share.
On the flip side, Flour Mills of Nigeria led the price gainers with 89k or 2.62 percent rise to settle at N34.89k per share.
Nigerian Breweries went up by 77k or 0.55 percent to finish at N139.75k per share, while Forte Oil increased by 65k or 1.36 percent to end at N48.62k per share.
Okomu Oil advanced today by 21k or 0.31 percent to close at N68.20k per share, and NAHCO grew by 17k or 4.79 percent to finish at N3.72k per share.
Business Post reports that the volume of stocks transacted by investors on Tuesday depreciated with a total of 238.4 million shares worth N3.4 billion exchanged in 4,238 deals in contrast to 336.3 million equities valued at N30 billion transacted yesterday in 3,778 deals.
Financial stocks remained investors delight with First Bank emerging the most active stock after selling 75.8 million shares worth N541.3 million.
It was followed by Diamond Bank, which traded 33.8 million units for N37.6 million, and Stanbic IBTC, which exchanged 14.4 million shares at N614 million.
Transcorp traded 11.4 million shares worth N15.5 million, while Zenith Bank transacted 10.6 million shares valued at N257.5 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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