Economy
Veritas Kapital, Sterling Bank, GTCO Dominate NGX Activity Chart
By Dipo Olowookere
Last week, on the floor of the Nigerian Exchange (NGX) Limited, the trio of Veritas Kapital Assurance, Sterling Bank, and Guaranty Trust Holding Company (GTCO) dominated the activity chart, trading 605.879 million shares worth N2.120 billion in 1,631 deals, accounting for 48.82 per cent and 13.53 per cent of the total trading volume and value, respectively.
In the week, investors bought and sold 1.241 billion shares worth N15.668 billion in 18,560 deals, in contrast to the 1.286 billion shares worth N29.634 billion transacted in 19,816 deals in the preceding week.
Shares in the financial services industry were the busiest, with 1.010 billion units valued at N5.924 billion traded in 9,165 deals, contributing 81.37 per cent and 37.81 per cent to the total trading volume and value, respectively.
Equities in the conglomerates sector followed with 46.761 million shares worth N112.918 million in 641 deals, while stocks in the consumer goods counter with a turnover of 42.121 million shares worth N2.134 billion in 2,886 deals.
A total of 39 equities appreciated in price during the week, lower than 51 equities in the previous week, while 30 equities depreciated in price, higher than 27 equities in the previous week, with 88 equities remaining unchanged, higher than 79 equities recorded in the previous week.
International Energy Insurance topped the gainers’ log last week after it grew by 28.95 per cent to 49 Kobo, MRS Oil Nigeria increased by 13.48 per cent to N16.00, NAHCO gained 12.86 per cent to sell at N7.90, Sunu Assurances chalked up 12.12 per cent to close at 37 Kobo, and Abbey Mortgage Bank appreciated by 9.80 per cent to N1.68.
On top of the losers’ table was Livestock Feeds, which lost 13.85 per cent to quote at N1.12, C&I Leasing depleted by 10.00 per cent to N3.15, UPDC shed 9.62 per cent to trade at 94 Kobo, Sovereign Trust Insurance went down by 7.14 per cent to 26 Kobo, and International Breweries decreased by 7.00 per cent to N4.65.
Data obtained by Business Post from the exchange showed that the All-Share Index (ASI) and the market capitalisation appreciated by 0.16 per cent to 52,594.68 points and N28.647 trillion, respectively.
Similarly, all other indices finished higher with the exception of NGX CG, premium, banking, pension, NGX AFR Bank Value, NGX AFR Div. Yield, NGX MERI Value, consumer goods, industrial goods, insurance and growth indices which depreciated by 1.17 per cent, 1.18 per cent, 2.60 per cent, 0.64 per cent, 2.66 per cent, 2.05 per cent, 2.34 per cent, 0.40 per cent and 1.06 per cent respectively, while the ASeM and sovereign bond indices 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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