NGX falls 0.97% despite strong showings from BUA Cement and MTN
The NGX ASI closed at 1491.57 points, down 0.97% on Wednesday. This decline comes despite BUA Cement's recent surge of 10% to ₦326.7 earlier in the week, according to Nairametrics. MTN Nigeria also became the group's biggest profit engine, overtaking South Africa, reports Business Insider Africa. Insurers gained on capital raise news while oil stocks like Aradel and Presco declined.
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Nigerian Exchange — NGXGROUP slips 2.8% in 5 days even as NGX ASI edges up 0.23%
NGXGROUP fell 2.8% over five sessions to 136.0 NGN, lagging a mildly positive Nigerian market. With a 28.6 P/E and a 1.47% yield, the stock remains a direct play on trading activity and the broader market cycle.
Nigerian Exchange — Intels Nigeria Jumps 10% as New Government Contracts Lift Q2 Story
Intels Nigeria rose 10% on Wednesday, August 12, 2026, after strong Q2 earnings and fresh government contracts. The NGX ASI added just 0.23%, showing a selective market even as Brent held near $88.85 a barrel.
MTN leads NGX narrative with NGN3 trillion H1 revenue
The NGX ASI rose 0.21% to 1,875.44 on Aug. 11, while FTN Cocoa jumped 9.9% according to analyst notes and DANGSUGAR fell 7.2% over 5 days. MTN Nigeria drove the newsflow with nearly NGN3 trillion in H1 2026 revenue, up 25.9%, and 70.6% profit growth, according to CNBC Africa and Telecom Review Africa. The company also said it spent NGN1.62 trillion to NGN1.63 trillion on network capex, according to APAnews and Punch Newspapers, while fintech revenue fell 7% after lending rules, The Guardian Nigeria News reported. In industry, BUA Cement wants to raise capacity with a 3 mmtpa greenfield plant and a brownfield project, according to LEADERSHIP, while Dangote Refinery could pursue a Johannesburg secondary listing as part of a $5 billion IPO, according to Financial Nigeria and African Capital Markets News.