NGX ASI falls 0.95% as Oando jumps 10% in a selective market
The NGX ASI closed at 1,663.06, down 0.9517% on May 18, after a 1.44% weekly decline flagged on May 15 in an analyst report. Oando jumped 10% on 1 billion NGN of turnover on May 18, showing selective buying even as the broader index fell, according to the same report. On earnings, Lafarge Africa said Q1 2026 profit doubled to 98 billion NGN on stronger sales and cost control, while THISDAYLIVE reported a proposed dividend payout of 96.64 billion NGN. In financials and telecoms, MarketForces Africa said Fitch affirmed Stanbic IBTC at AAA(nga) with a stable outlook, while MarketForces Africa and Nairametrics reported MTN Nigeria drove group Q1 earnings growth and returned to profit on FX stability and data growth; LEADERSHIP Newspapers added that NMRC’s 11.5 billion NGN bond offer was oversubscribed.
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NGX rises 1.28% as MTN’s N3 trln revenue and Seplat’s $164 mln profit lift mood
The NGX ASI closed at 1,856.34, up 1.2777%, extending its weekly gain to 1.28% as Access and UBA led a rebound despite 27 decliners, according to Afrivestia analysts. MTN Nigeria dominated the tape with H1 revenue of nearly N3.0 trillion, net profit of N707.5 billion up 70.6% to 71%, 4.9 million new subscribers and an interim dividend of N26, according to Independent Newspaper Nigeria, Telecom Review Africa, Techeconomy, Investors King and Proshare. The group also cleared its FX debt, opening a new investment phase, while an FCCPC crackdown on airtime lending wiped out nearly 75% of fintech revenue, Business News Nigeria reported. In energy, Seplat Energy posted H1 profit after tax of $164 million, up 498%, while NNPC wants to acquire 10% of its JV for $281.6 million, according to Daily Trust and Punch Newspapers. In materials, cement companies lifted H1 profit by 40% to N1.17 trillion, while BUA Cement wants to add 3 mmtpa through a greenfield plant and a brownfield project after approving a N10.00 per share dividend, according to The Guardian Nigeria News, LEADERSHIP Newspapers and Proshare.
Nigerian Exchange — INTENEGINS slides 5.8% in 5 days as NGX ASI rises 1.28%
INTENEGINS fell 5.8% over five sessions to 4.04 NGN, underperforming a 1.28% rise in the NGX ASI. With an RSI of 40.29, a P/E of 18.4 and high risk, the stock is showing relative weakness in a sharply mixed insurance segment.
Nigerian Exchange — NGX Gains 1.28% for Aug. 3-7 Week as Access, UBA Lift Trade Despite 27 Decliners
The NGX rose 1.28% in the week ended August 7, 2026, led by financials and telecom even as breadth stayed weak at 17 gainers versus 27 losers. Access Holdings, UBA and GTCO drew heavy turnover in a market still tied to naira stability and oil prices.