Economy
Strong Corporate Earnings Buoy Customs Street by 2.03%
By Dipo Olowookere
Investors were swayed to sustain their appetite for the equity market on Tuesday as a result of the encouraging financial statements of companies on the Nigerian Exchange (NGX) Limited.
Business Post reports that Customs Street gained 2.03 per cent during the session, with 51 stocks closing in green and 25 stocks in red, indicating a positive market breadth index and strong investor sentiment.
Berger Paints chalked up 10.00 per cent to sell for N34.10, Haldane McCall grew by 10.00 per cent to N4.73, Learn Africa appreciated by 10.00 per cent to N6.93, Thomas Wyatt improved by 10.00 per cent to N3.19, and Ellah Lakes jumped by 9.99 per cent to N9.80.
Conversely, Northern Nigeria Flour Mills lost 10.00 per cent to quote at N93.15, Abbey Mortgage Bank crashed by 10.00 per cent to N7.20, Vitafoam shrank by 9.96 per cent to N79.10, Industrial and Medical Gases gave up 9.93 per cent to finish at N37.65, and International Breweries slipped by 7.10 per cent to N15.05.
It was observed that apart from the consumer goods index, which closed lower by 0.27 per cent due to profit-taking in International Breweries, every other sector closed higher yesterday.
The industrial goods space rose by 2.93 per cent, the insurance counter appreciated by 1.93 per cent, the banking sector improved by 1.62 per cent, and the energy industry gained 0.19 per cent.
Consequently, the All-Share Index (ASI) increased by 2,746.36 points to 137,912.87 points from 135,166.51 points and the market capitalisation went up by N1.736 trillion to N87.191 trillion from N85.455 trillion.
A look at the level of activity showed that 940.8 million shares worth N30.6 billion exchanged hands in 28,358 deals on Tuesday versus the 795.6 million shares worth N23.2 billion traded in 37,626 deals on Monday, representing a shortfall in the number of deals by 24.63 per cent, and a leap in the trading volume and value by 18.25 per cent and 31.90 per cent apiece.
The rise in the turnover was driven by significant transactions in Fidelity Bank, selling 111.3 million units for N2.3 billion, as Royal Exchange traded 74.1 million units valued at N110.8 million, Jaiz Bank exchanged 60.9 million units worth N238.2 million, Universal Insurance transacted 38.3 million units worth N28.8 million, and Access Holdings traded 36.8 million units valued at N1.0 billion.
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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