Economy
Sustained Sell Pressure Trims Stock Investors’ Wealth by N34bn
By Dipo Olowookere
The wealth of stock investors in Nigeria was trimmed by N34 billion on Thursday after the Nigerian Exchange (NGX) Limited further depreciated by 0.15 per cent.
Sustained sell pressure extended the stay of the bears on Customs Street by another trading session as traders booked profit in banking and energy equities.
Business Post reports that activities of profit-takers shortened the market capitalisation of the exchange to N22.589 trillion as against the preceding day’s N22.623 trillion and weakened the All-Share Index (ASI) by 63.93 points to 43,285.97 points from 43,349.90 points.
The banking and energy sectors appreciated each by 0.19 per cent, while the industrial goods counter fell by 0.12 per cent, with the insurance and consumer goods sectors appreciating by 0.59 per cent and 0.14 per cent respectively.
Investor sentiment remained weak yesterday as there were 12 appreciating stocks and 23 depreciating equities led by Chams, which declined by 8.70 per cent to close at 21 kobo.
Regency Assurance depleted by 7.50 per cent to 37 kobo, Unity Bank lost 7.41 per cent to sell for 50 kobo, FBN Holdings retreated by 6.50 per cent to N11.50, while ABC Transport contracted by 6.06 per cent to 31 kobo.
Vitafoam and eTranzact were the highest price gainers during the session, rising by 10.00 per cent each to settle at N20.90 and N2.09 respectively.
Academy Press grew by 9.09 per cent to 36 kobo, Jaiz Bank appreciated by 6.45 per cent to trade at 66 kobo, while Axa Mansard gained 6.33 per cent to trade at N2.35.
A total of 210.6 million shares worth N2.6 billion were traded in 3,423 deals yesterday compared with the 264.8 million shares worth N6.1 billion traded in 4,230 deals a day earlier, indicating a decline in the trading volume, value and number of deals by 20.49 per cent, 57.17 per cent and 19.08 per cent respectively.
Sterling Bank ended the day as the most active stock with the sale of 60.2 million units valued at N90.3 million, followed by eTranzact, which transacted 14.1 million units worth N29.4 million.
Transcorp traded 13.1 million equities valued at N12.7 million, GTCO sold 11.0 million stocks for N288.5 million, and Jaiz Bank exchanged 10.4 million shares for N7.0 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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