Economy
Stock Market Gains N52bn as Buhari Floors Atiku at Tribunal
By Dipo Olowookere
The nation’s stock market closed 0.39 percent higher on Wednesday after suffering two consecutive losses this week as a result of profit taking activities by investors.
During yesterday’s session, the bulls chased out the bears from the market as investors kept an eye on proceedings at the election tribunal giving its ruling on the disputes from the February 2019 presidential election between President Muhammadu Buhari of the All Progressives Congress (APC) and his challenger, Mr Atiku Abubakar of the Peoples Democratic Party (PDP).
First feelers from the tribunal in Abuja gave clear indications that the President would retain his seat and this improved the level of confidence of investors, triggering buying pressure at the market.
Though the final judgement did not come before the close of transactions at the Nigerian Stock Exchange (NSE), earlier rulings dismissing some of the appeals of Mr Atiku on the legitimacy of Mr Buhari and others brought fresh air to the stock market.
At the end of the day, the All-Share Index (ASI) increased by 105.95 points to settle at 27,153.53 basis points from 27,047.58 basis points in the last session, while the market capitalization appreciated by N51.6 billion to finish at N13.210 trillion against N13.158 trillion on Tuesday.
But Business Post observed that despite the market closing bullish yesterday, the volume, value and number of deals executed depreciated by 41.92 percent, 70.18 percent and 5.70 percent respectively.
A total of 211.5 million shares worth N1.5 billion were exchanged by investors in 4,365 deals in the mid-week session compared with the 364.2 million equities valued at N4.9 billion transacted in 4,629 deals in the previous trading session.
Courtville recorded the highest volume of sales yesterday, closing with a turnover of 35.2 million units of its shares traded at N7.7 million.
It was followed by Sterling Bank, which traded 34.7 million shares worth N78.1 million, and Access Bank, which transacted 30 million equities valued at N208.4 million.
Furthermore, Transcorp exchanged 15.9 million units of its stocks worth N16.1 million during the trading day, while UBA sold 12.5 million shares worth N77.5 million.
An analysis of the price movement chart showed that yesterday, Nestle Nigeria topped the gainers’ table after a price appreciation of N40 to close at N1120 per unit.
Seplat trailed with a price growth of N24 to finish at N450 per share, CCNN gained 25 kobo to settle at N16.50k per share, May & Baker improved its share value by 19 kobo to end at N2.09k per unit, while FCMB garnered 9 kobo to close at N1.64k each.
At the other side, Guinness Nigeria closed as the day’s heaviest price loser after depreciating by 30 kobo to trade at N37 per share, while Stanbic IBTC went down by 25 kobo to finish at N35.75k per share.
Flour Mills also declined by 25 kobo to close at N13.25k per share, Dangote Flour shed 15 kobo to settle at N22.10k per unit, while UAC Nigeria depleted by 15 kobo to trade at N6.05k per share.
For the sectoral performance, only the insurance sector closed negative on Wednesday after going down by 1.25 percent.
The energy sector was the day’s highest gainer with 2.82 percent growth, the consumer goods index appreciated by 1.60 percent, banking stocks rose by 0.35 percent, while industrial sector appreciated by 0.16 percent.
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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