NGX ASI falls 1.67% as NGX Group slides 6.5%
The NGX ASI closed at 1,480.83, down 1.6733% on March 26, while NGX Group dropped 6.5%, according to analyst reports. The decline partly reversed the 1.60% gain on March 23 and the N923 billion week-on-week advance reported on March 25, driven in part by buying interest in BUA Cement, according to THISDAYLIVE. Newsflow stayed focused on heavyweight names: MTN Nigeria posted a N1.1 trillion profit for 2025, while BUA Cement wants to raise capacity with a 3 mmtpa greenfield plant and a brownfield project, LEADERSHIP Newspapers reported. At the same time, income and sector themes remained prominent, with listed cement firms declaring N1.380 trillion in dividends, Nestle, MTN and Dangote Cement among companies with N24.3 billion in unclaimed dividends, and the oil and gas sector up 60.83% year-to-date, according to THISDAYLIVE.
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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%.