Economy
Selloffs in Oil Stocks Crash NSE Index by 0.39%
By Dipo Olowookere
Profit taking resumed on the floor of the Nigerian Stock Exchange (NSE) on Monday, leading to the 0.39 percent decline suffered by the market.
Business Post observed that heavy selloffs in the oil/gas sector led by Seplat contributed to the downfall of the local stock market yesterday.
The sector depreciated by 6.78 percent, while the industrial industry went down by 0.99 percent, with the consumer goods sector going down by 0.39 percent and the banking sector depreciating by 0.22 percent.
However, the insurance index closed in the green territory on Monday after appreciating by 0.66 percent at the close of transactions.
Business Post reports that the market was dull yesterday in the absence of any positive news to trigger any buying interest.
A look at the activity chart gave a true reflection of the mood at the market on Monday with the volume and value of transactions going down by 87.23 percent and 29.55 percent respectively.
A total of 158.3 million shares worth N2.3 billion were traded by investors yesterday compared with the 1.2 billion equities worth N3.3 billion exchanged at the market last Friday.
A further breakdown of the trades revealed that Transcorp was the most active stock at the market, closing with a turnover of 31.8 million units sold for N34 million.
Zenith Bank traded 18.7 million shares worth N348.4 million, UBA exchanged 17.9 million units worth N107.7 million, FBN Holdings traded 14.1 million equities valued at N70.8 million, while GTBank traded 13.5 million shares for N372.2 million.
On the price movement chart, the market breadth ended negative as a result of the 21 price losers and 19 price gainers printed by the NSE yesterday.
Seplat topped the decliners’ table after suffering a price depreciation of N49 to settle at N441 per unit, while Julius Berger followed with a decline of N2.05k to close at N18.55k per share.
Forte Oil went down by N1.60k to end at N14.40k per unit, International Breweries depreciated by N1 to settle at N10.50k per share, while CCNN lost 90 kobo to finish at N14 per unit.
Conversely, Nestle Nigeria closed at the market on Monday as the highest price gainer after adding N2 to its share price to settle at N1232 per unit.
Dangote Cement gained 50 kobo to finish at N167 per share, Flour Mills rose by 45 kobo to exchange at N14.30k per share, while NPF Microfinance Bank and Zenith Bank appreciated by 10 kobo each to finish at N1.26k and N18.70k respectively.
The All Share Index (ASI) depreciated by 108.32 points to finish at 27,691.85 points on Monday, while the market capitalization reduced by N53 billion to settle at N13.472 trillion.
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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