Economy
Traders Stake N28.650bn on 1.132 billion Shares in Two Days on NGX
By Dipo Olowookere
About 1.132 billion shares worth N28.650 billion were transacted on the floor of the Nigerian Exchange (NGX) Limited in 21,921 deals last week compared with the 3.680 billion shares valued at N57.892 transacted a week earlier in 40,726 deals.
The low level of activity was due to the public holidays observed on Tuesday, Wednesday, and Thursday in the country for Eid el-Fitr. The market only witnessed trading activities on Monday and Friday last week.
As usual, the financial services industry led the activity chart with 859.646 million shares sold for N20.624 billion in 12,297 deals, accounting for 75.94 per cent and 71.99 per cent of the total trading volume and value, respectively.
It was trailed by the conglomerates counter with 107.940 million shares sold for N1.461 billion in 1,346 deals, and the consumer goods sector with 51.443 million shares worth N1.921 billion in 2,658 deals.
UBA, Zenith Bank, and Abbey Mortgage Bank were the dominant equities in the week, accounting for 447.033 billion shares worth N10.745 billion in 3,513 deals, contributing 39.49 per cent and 37.50 per cent to the total trading volume and value, respectively.
Business Post reports that 19 stocks appreciated last week versus 31 stocks in the previous week, while 40 stocks depreciated versus 42 stocks of the earlier week, with 95 stocks closing flat versus 81 stocks in the preceding week.
The week was marred by selling pressure, with Access Holdings closing as the worst-performing equity after it dropped 14.60 per cent to N19.30. United Capital lost 13.92 per cent to trade at N20.10, GTCO fell by 13.75 per cent to N41.40, Flour Mills crumbled by 13.55 per cent to N33.80, and Sunu Assurances declined by 13.24 per cent to N1.18.
On the flip side, Morison Industries gained 20.75 per cent to quote at N2.56, Oando appreciated by 10.57 per cent to N12.55, Transcorp increased by 10.33 per cent to N14.95, Deap Capital improved by 9.68 per cent to 68 Kobo, and Omatek rose by 8.97 per cent to 85 Kobo.
The index movement chart showed that the All-Share Index (ASI) and the market capitalisation went down respectively by 1.09 per cent and 1.08 per cent to 102,314.56 points and N57.865 trillion, as all other indices finished lower except ASeM and sovereign bond indices, which 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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