NGX ASI slips 0.37% as MTN and Lafarge drive the narrative
The NGX ASI fell 0.3668% to 1,817.17 on July 13, after a week that saw the index shed 1.37%, according to Afrivestia analysts. MTN Nigeria led the flow with FY 2025 audited profit after tax of 1.11 trillion naira and a quoted share price of 760 naira, according to Proshare, after losing 1.7 trillion naira in market value in an investor selloff on July 6, according to MarketForces Africa, before a 1.86 trillion naira market rebound on July 7 driven in part by MTN and Dangote Cement, according to THISDAYLIVE. On the tape, DANGCEM jumped 8.7% with a 4.3% dividend yield, while NIDF gained 10% despite the index decline, according to Afrivestia analysts. In corporate news, the Senate endorsed a proposed $1 billion acquisition of Lafarge Africa by a Chinese company, while questions were raised over ownership of 66% of Lafarge shares, according to thestreetjournal.org and LEADERSHIP Newspapers, and UTM FLNG signed a gas sale agreement with the NNPCL/Seplat Energy JV, according to The Nation Newspaper.
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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.