Economy
Stock Market Rises 0.10% as Golden Guinea Breweries Tops Gainers’ Chart
By Dipo Olowookere
The local stock market bounced back from the danger zone it fund itself on Monday as it appreciated by 0.10 per cent on Tuesday, with the year-to-date return closing at 31.34 per cent.
The Nigerian Exchange (NGX) Limited stood tall yesterday despite a pocket of profit-taking in the industrial goods and banking indices, which closed lower by 0.84 per cent and 0.20 per cent, respectively.
During the trading session, the insurance counter appreciated by 1.98 per cent, the energy sector improved by 1.64 per cent, and the consumer goods space gained 0.17 per cent.
Consequently, the All-Share Index (ASI) rose by 98.45 points to 98,206.97 points from 98,107.52 points and the market capitalisation increased by N60 billion to settle at N59.532 trillion compared with the preceding day’s N59.472 trillion.
According to data obtained from the bourse, Golden Guinea Breweries topped the gainers’ chart on Tuesday after it chalked up 9.93 per cent to trade at N6.53, Guinea Insurance jumped by 9.80 per cent to 56 Kobo, Tantalizers expanded by 9.77 per cent to N1.46, Africa Prudential soared by 9.70 per cent to N13.00, and ABC Transport accelerated by 9.65 per cent to N1.25.
On the flip side, John Holt led the losers’ table after it slumped by 9.96 per cent to N7.23, Haldane McCall shrank by 9.91 per cent to N5.27, Morison Industries moderated by 9.89 per cent to N4.01, Lafarge Africa tumbled by 7.80 per cent to N65.00, and UPDC REIT crashed by 5.83 per cent to N4.85.
At the close of transactions, Customs Street recorded 37 appreciating equities and 21 depreciating equities, representing a positive market breadth index and strong investor sentiment.
Business Post reports that Coronation Insurance was the most traded stock for the trading day with 457.6 million units sold for N503.8 million, Sterling Holdings exchanged 138.4 million units worth N677.5 million, Japual transacted 30.4 million units valued at N66.9 million, UBA traded 28.7 million units worth N962.6 million, and MTN Nigeria sold 24.7 million units valued at N4.3 billion.
A total of 939.4 million shares valued at N12.8 billion exchanged hands in 9,098 deals yesterday compared with the 436.0 million shares worth N12.9 billion traded in 9,489 deals a day earlier, implying a growth in the volume of transactions by 115.46 per cent and a fall in the value of trades and the number of deals by 0.78 per cent and 4.12 per cent, respectively.
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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