Economy
Standard Insurance, Jaiz Bank, GTCO Account for 70% of Weekly Trading Volume
By Dipo Olowookere
Last week, the trio of Standard Insurance, Jaiz Bank, and Guaranty Trust Holding Company (GTCO) accounted for 70.00 per cent and 24.04 per cent of the total trading volume and value, respectively at the Nigerian Exchange (NGX) Limited.
Business Post reports that this was because investors transacted 3.951 billion shares of the three companies worth N7.947 billion in 1,839 deals in the trading week.
Data showed that in the five-day trading week, a total of 5.641 billion shares worth N33.052 billion exchanged hands in 42,006 deals compared with the 2.033 billion shares valued at N42.155 billion traded in 45,157 deals in the preceding week.
Financial stocks led the activity chart with 4.977 billion units sold for N17.877 billion in 19,064 deals, contributing 88.22 per cent and 54.09 per cent to the total trading volume and value, respectively.
Energy equities recorded a turnover of 179.469 million units worth N8.954 billion in 5,780 deals, and services shares posted 123.505 million units worth N525.417 million in 2,436 deals.
A total of 43 equities appreciated last week versus 39 equities in the previous week, 34 stocks depreciated versus 46 stocks a week earlier, and 74 shares remained unchanged versus 66 shares in the preceding week.
Cutix topped the losers’ chart after it fell by 37.37 per cent to N3.10, Dangote Cement lost 10.00 per cent to close at N532.00, The Initiates declined by 9.78 per cent to N2.03, Thomas Wyatt depreciated by 9.71 per cent to N1.58, and Beta Glass tumbled by 9.43 per cent to N48.00.
Conversely, RT Briscoe led the gainers’ group with 59.41 per cent appreciation to settle at N2.71, Tantalizers gained 54.55 per cent to quote at 68 Kobo, Oando expanded by 33.47 per cent to N47.85, Deap Capital improved by 30.23 per cent to 56 Kobo, and United Capital soared by 26.60 per cent to N19.75.
The week was marred with profit-taking, causing the All-Share Index (ASI) and the market capitalisation to crash by 1.162 per cent and 0.004 per cent to 95,973.45 points and N55.129 trillion, respectively.
In the same vein, all other indices closed lower apart from the Main Board, NGX CG, banking, insurance, AFR Bank Value, AFR Div Yield, MERI Growth, MERI Value and energy indices, which finished higher by 0.98 per cent, 0.17 per cent, 0.37 per cent, 1.90 per cent, 0.47 per cent, 6.31 per cent, 3.94 per cent, 0.38 per cent and 3.54 per cent, respectively, while the ASeM index closed flat.
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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