Economy
Unity Bank, GTBank, Others Drive N19bn Investment in Domestic Stocks
By Dipo Olowookere
Last week, on the floor of the local exchange, the volume of transactions increased by 35.29 per cent to 2.3 billion units from 1.7 billion units as a result of interests in stocks in the banking sector.
The market witnessed this rise in the number of traded equities despite the recent decline due to the absence of triggers to propel a buying pressure, though the release of the audited 2020 earnings of GTBank and the completion of the demutualisation of the Nigerian Stock Exchange (NSE) spurred bargain hunting in two of the five-day trading week.
Business Post observed that despite the increase in the trading volume, the value of the investment in domestic stocks reduced by 17.87 per cent as shares worth N19.3 billion exchanged hands in 20,173 deals during the week compared with the N23.5 billion equities transacted in 21,732 deals the preceding week.
Trading in Unity Bank, GTBank and Multiverse Mining and Exploration accounted for 1.5 billion shares worth N7.1 billion in 2,317 deals, contributing 62.82 per cent and 36.91 per cent to the total trading volume and value respectively.
At the close of business, financial stocks led the activity log by volume with the sale of 1.9 billion shares valued at N12.5 billion in 12,019 deals, accounting for 80.60 per cent and 64.58 per cent of the total equity turnover volume and value respectively.
Equities in the natural resources industry recorded 201.3 million units worth N41.295 million in 27 deals, while stocks in the conglomerate sector traded 62.1 million units valued at N65.7 million in 612 deals.
According to data from the exchange, 33 equities appreciated in price during the week, lower than 35 equities in the previous week, while 25 equities depreciated in price, lower than 38 equities in the previous week, with 104 equities closing flat, higher than 89 equities recorded in the preceding week.
Eterna was the biggest price riser as its share price improved by 20.78 per cent to N5.58 and was trailed by SFS REIT, which grew by 9.94 per cent to N68.60.
Northern Nigerian Flour Mills gained 9.73 per cent to close at N6.20, Unity Bank appreciated by 9.09 per cent to trade at 72 kobo, while Smart Products Nigeria rose by 8.33 per cent to 26 kobo.
On the flip side, Neimeth topped the losers’ log after its share price went down by 14.83 per cent to N1.78 and was followed by Africa Prudential, which fell by 10.08 per cent to N5.35.
NCR Nigeria depreciated by 9.71 per cent to N2.79, Linkage Assurance declined by 9.09 per cent to 50 kobo, while Lasaco Assurance dropped 6.92 per cent to N1.21.
When the market closed for the week last Friday, the All-Share Index (ASI) and market capitalisation reduced by 0.69 per cent to 38,382.39 points and N20.082 trillion respectively.
However, all other indices finished higher with the exception of the NSE mainboard, NSE 30, insurance, consumer goods, NSE Lotus II, industrial and growth indices, which declined by 1.68 per cent, 0.99 per cent, 0.01 per cent, 1.46 per cent, 1.51 per cent, 2.62 per cent and 0.25 per cent 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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