NGX ASI rises 0.88% despite 31 decliners, with Stanbic and Seplat in focus
The NGX ASI closed at 1,842.88, up 0.8846% on July 1, after a choppy stretch in which 31 stocks fell despite gains of 10% for Austin Lazers and 9.9% for Guinea Insurance, according to July 1 analyst notes. The move extends a rebound from June 29, when UPDC jumped 9.2% but MTN Nigeria slid 10% amid 36 decliners, according to analyst notes. On the corporate front, Stanbic IBTC posted a record 2025 profit of naira 551.7 billion and raised its dividend, reports Marketing Edge, while Seplat Energy named Elumelu chairman and Okon CEO on June 25 and highlighted gas growth and production expansion, according to THISDAYLIVE and LEADERSHIP. MTN Nigeria also recorded insider share purchases worth naira 921.8 million across 5 tranches, according to TechNext.ng, and said it is complying with IFRS S1 and S2, reports Tribune Online.
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MTN leads NGX as ASI rises 0.81% amid $5 bln IPO push
The NGX ASI rose 0.81% to 1,871.46 on Aug. 10, after a 1.28% weekly gain as of Aug. 7 despite 27 decliners, according to analyst reports. MTN Nigeria drove the flow with H1 revenue of N2.99 trillion to N3.0 trillion and profit growth of 70.6% to 71% to N707.5 billion, while 4.9 million net subscriber additions lifted service revenue 25.9% to N3.0 trillion, according to Telecom Review Africa, Techeconomy and Investors King. The group also invested N1.62 trillion in network infrastructure and is still awaiting CBN approval to complete the sale of a 60% fintech stake, while the Xtratime suspension triggered a 72% collapse in Q2 fintech revenue, according to APAnews, Business Post Nigeria and Marketing Edge Magazine. Elsewhere, Seplat Energy’s H1 profit after tax jumped 498% to $164 million, cement companies grew H1 profit 40% to N1.17 trillion and BUA Cement wants to add 3 mmtpa through greenfield and brownfield projects, while Dangote Refinery’s $5 billion IPO is drawing closer and the JSE is pursuing a secondary listing, reports Financial Nigeria and African Capital Markets News.
Nigerian Exchange — DANGSUGAR Drops 7.2% in 5 Days as DANGCEM Jumps 8.7%
DANGSUGAR fell 7.2% over five sessions to 73.0 NGN, lagging an NGX ASI that rose 0.81%. The contrast with DANGCEM, up 8.7% to 1,047.0 NGN, points to a clear rotation into cement names and large-cap defensives.
Nigerian Exchange — NAHCO Jumps 9.3% as $86.26 Brent Revives Nigeria Cargo Trade Bet
NAHCO led NGX gainers with a 9.3% jump to 153 NGN in a market where losers still outnumbered gainers 32 to 16. Brent at $86.26 and a strong banking rebound helped lift the NGX All Share Index by 0.81%.