Economy
Sustained Profit Taking Reduces Equities Value to N12.981trn
By Dipo Olowookere
The Nigerian Stock Exchange (NSE) further depreciated by 0.58 per cent on Tuesday following sustained profit-taking by equities’ investors.
The selloff by the market participants reduced the market capitalisation by N75 billion to N12.981 trillion from N13.056 trillion the previous day.
Also, it weakened the All-Share Index (ASI) by 143.91 points to 24,883.70 points from 25,027.61 points, expanding the year-to-date loss to 7.2 per cent.
The loss was mainly from the insurance sector, which fell by 2.48 per cent and the industrial goods space, which depreciated by 2.16 per cent.
Business Post observed that gains in the consumer goods sector (+0.93 per cent), banking index (+0.52 per cent) and energy counter (+0.26 per cent) could not lift the market yesterday.
At the close of transactions, Dangote Cement, which lost N5.80, led the decliners’ group to settle at N136 per share.
Guinness Nigeria depreciated by 50 kobo to close at N14.50 per unit, Axa Mansard fell by 13 kobo to N1.45 per share, Ikeja Hotel lost 11 kobo to finish at N1.01 per share, while United Capital declined by 10 kobo to N3.14 per unit.
At the other end, Nigerian Breweries was the biggest price gainer yesterday, adding N2 to its share value to finish at N34 per unit.
Value Alliance gained N1.55 kobo to sell for N115.05 per share, Ardova appreciated by 60 kobo to close at N12.75 per share, Cadbury Nigeria increased its price by 45 kobo to N7.05 per unit, while GTBank gained 25 kobo to trade at N24.80 per share.
During trading on Tuesday, investors transacted 206.6 million stocks worth N2.5 billion in 3,925 deals in contrast to the 167.1 million shares worth N2.0 billion traded in 4,036 deals on Monday.
There was a huge interest in the shares of Access Bank yesterday as the company traded 29.2 million units valued at N191.6 million.
Fidelity Bank transacted 27.8 million stocks for N50.1 million, GTBank exchanged 25.3 million equities for N625.6 million, Zenith Bank traded 15.3 million shares worth N257.8 million, while Wema Bank transacted 11.1 million equities for N6.0 million.
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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