Economy
Traders Increase Investment in Nigerian Stocks by 16.6% in One Week
By Dipo Olowookere
Nigerian stocks attracted more investments last week than the preceding week as a result of renewed confidence in the market, as traders quickly take a position, especially in large-cap equities, ahead of the release of financial results in the coming months.
The Nigerian Exchange (NGX) Limited has been impressive in 2023, and there are indications that next year will be better. Those who have missed out on the goodies this year are already positioning themselves for 2024 so as not to be left behind again.
Consequently, the bourse witnessed an improvement in the value of transactions by 16.6 per cent to N45.070 billion from the N38.644 billion recorded a week earlier.
However, the volume of transactions went down to 2.423 billion shares from 2.543 billion shares, and the number of deals decreased to 34,704 deals from 36,138 deals.
Universal Insurance, UBA and GTCO topped the activity chart after trading 543.315 million shares worth N10.577 billion in 3,860 deals, contributing 22.43 per cent and 23.47 per cent to the total trading volume and value, respectively.
Financial stocks were the most active in the week, selling 1.726 billion units worth N22.760 billion in 18,190 deals, contributing 71.23 per cent and 50.50 per cent to the total trading volume and value apiece.
Conglomerates shares trailed with 201.478 million units valued at N2.350 billion in 1,533 deals, as consumer goods equities posted a turnover of 127.468 million units worth N3.671 billion in 4,113 deals.
Business Post reports that 49 shares gained weight in the week versus 32 shares in the preceding week, 33 stocks lost weight versus 49 stocks in the previous week, and 73 equities closed flat, the same as the earlier week.
Multiverse topped the advancers’ log after growing by 57.02 per cent to N9.39, Thomas Wyatt rose by 32.80 per cent to N3.32, Infinity Trust Mortgage Bank appreciated by 32.09 per cent to N1.77, Ecobank jumped by 21.35 per cent to N20.75, and Secure Electronic Technology soared by 17.19 per cent to 75 Kobo.
On the flip side, Consolidated Hallmark lost 12.70 per cent to settle at N1.10, Oando slumped by 12.29 per cent to N10.35, Abbey Mortgage Bank weakened by 10.47 per cent to N1.54, MRS Oil deflated by 9.96 per cent to N99.00, and Tantalizers fell by 9.62 per cent to 47 Kobo.
On a week-on-week basis, the All-Share Index (ASI) and the market capitalisation appreciated by 0.17 per cent to 71,541.74 points and N39.149 trillion, respectively.
Similarly, all other indices finished higher except for NGX Main Board, insurance, ASeM, energy, Lotus II and industrial goods, which went down by 0.54 per cent, 1.44 per cent, 1.03 per cent, 0.58 per cent, 0.22 per cent and 3.03 per cent, respectively while the sovereign bond index closed flat.
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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