NGX ASI slips 0.48% as energy deals and Dangote IPO backing lead
The NGX ASI fell 0.48% to 1,799.15 on June 16, according to market data. Techeconomy reports that Africa’s largest bank is backing the Dangote Refinery IPO, without giving a deal size or timetable. SolarQuarter says First WATT Renewable and MTN Nigeria partnered to deploy 34 MWp of solar PV and 40 MWh of battery storage across critical facilities. On the stock side, Prestige Assurance jumped 9.8% despite the broader decline, while TRANSCORP fell 8.3% over 5 days and the market is testing support at NGN 43, according to analyst notes.
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MTN leads NGX headlines as ASI rises 0.86% to 1,895.85
The NGX ASI rose 0.8613% to 1,895.85 on Aug. 13, despite 33 decliners, while John Holt jumped 9.9% after its Q2 results, according to analyst notes. MTN Nigeria dominated headlines with N1.62 trillion to N1.63 trillion in capex and N3 trillion in H1 revenue, while its fintech revenue fell 7% after lending rules, according to APAnews, Punch and The Guardian Nigeria. The group is still awaiting CBN approval to complete the sale of a 60% stake in its fintech unit, Business Post Nigeria reported, keeping the transaction conditional. Elsewhere, BUA Cement wants to lift capacity with a 3 mmtpa greenfield plant and a brownfield project, according to LEADERSHIP, while the JSE is pursuing a secondary listing for Dangote Refinery’s $5 billion IPO, Financial Nigeria reported.
Nigerian Exchange — DANGSUGAR slides 9.1% in 5 days as DANGCEM rebounds 8.7%
DANGSUGAR fell to 70.0 NGN after a 9.1% five-day drop, even as the NGX ASI gained 0.86%. The contrast with DANGCEM, up 8.7% to 1,047.0 NGN, points to a clear rotation inside the Dangote universe.
Nigerian Exchange — John Holt Jumps 9.9% on Q2 Strength Even as 33 Stocks Fall
John Holt rose 9.9% to 10.0 NGN on Thursday, August 13, 2026, helped by an earnings-and-expansion narrative in a mixed market. The NGX ASI added 0.86% to 1,895.85, but decliners still outnumbered gainers 33 to 17.