NGX ASI slips 0.50% despite MTN's NGN1.11 trln profit and First HoldCo's 10% jump
The NGX ASI fell 0.50% to 1,808.0 on July 14, despite a 10% jump in First HoldCo on NGN22.26 billion in turnover, according to the July 14 analyst report. The decline extended a weaker run after a 0.37% drop on July 13, even as DANGCEM had surged 8.7% with a 4.3 dividend, according to the July 13 analyst report, following a July 7 session lifted by MTN Nigeria and Dangote Cement that added NGN1.86 trillion in market value, THISDAYLIVE reported. On the corporate front, MTN Nigeria posted NGN1.11 trillion profit after tax for FY 2025 with its share price cited at NGN760, according to Proshare, while Seplat Energy named a chairman-designate and an incoming CEO on July 11, also according to Proshare. In industry, the NNPCL-Seplat Energy JV signed a 15-year gas supply deal with UTM FLNG, according to The Guardian Nigeria News and The Nation, while the Senate approved a proposed $1 billion acquisition of Lafarge Africa by a Chinese company amid questions over 66% ownership, according to LEADERSHIP Newspapers and thestreetjournal.org.
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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.