Economy
Stocks Gain N330bn as Dividend Hunters Return to Market
By Dipo Olowookere
Nigerian stocks appreciated by 1.67 per cent on Thursday, which was the first trading session after the two-day public holiday to celebrate Sallah.
Investors returned to the market with renewed vigour and the declaration of an interim dividend of N4 by Total Nigeria was the trigger dividend hunters needed to spur bargain hunting.
At the close of transactions, the energy stock led the gainers’ chart of 22 members after its equity price rose by 10.00 per cent to settle at N184.80.
Cutix appreciated by 9.77 per cent to finish at N4.38, Oando gained 9.73 per cent to sell at N3.61, Dangote Cement improved by 7.83 per cent to N248.00, while Courtville jumped by 4.55 per cent to 23 kobo.
On the flip side, there were only a dozen equities on the losers’ chart with AIICO in charge after its value went down by 8.70 per cent to end at N1.05.
Sovereign Trust Insurance decreased by 6.45 per cent to 29 kobo, Veritas Kapital depreciated by 4.00 per cent to 24 kobo, Livestock Feeds lost 3.55 per cent to trade at N1.90, while Ardova declined by 3.23 per cent to N15.00.
Yesterday, investors traded 203.1 million shares worth N1.7 billion in 3,969 deals as against the 462.8 million shares worth N1.2 billion transacted in 3,610 deals on Monday, indicating that the trading volume dropped 56.11 per cent, while the trading value and the number of deals appreciated by 43.75 per cent and 9.94 per cent respectively.
At the close of business, Sterling Bank was the most active stock with 22.5 million units valued at N33.8 million, while United Capital followed with 16.9 million units valued at N115.1 million.
Fidelity Bank transacted 14.1 million shares worth N33.7 million, Wema Bank traded 14.0 million equities valued at N12.2 million, while GTCO traded 13.3 million stocks for N392.1 million.
During the session, Business Post observed that the industrial goods and energy sectors were the best performers, appreciated by 4.01 per cent and 3.11 per cent respectively.
Also, the banking and consumer goods counters appreciated by 0.31 per cent and 0.07 per cent respectively, while the insurance index depreciated by 1.88 per cent.
When trading activities were closed for the day, the All-Share Index (ASI) 632.87 points to 38,585.52 points from 37,952.65 points, while the market capitalisation increased by N330 billion to N20.104 trillion from N19.774 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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