Stock Market Gains N8.14trn on Buy Interest in MTN Nigeria, Dangote Cement
Stock Market Gains N8.14trn on Buy Interest in MTN Nigeria, Dangote Cement
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MTN Nigeria slips as NGX ASI rises 0.21% despite 38 decliners
The NGX ASI rose 0.2061% to 1,891.14 on August 17, after a 0.45% weekly decline flagged on August 14, while 38 stocks still fell, according to analyst notes. MTN Nigeria slipped on August 17 as investors sold on the interim dividend, reports MarketForces Africa, after Punch Newspapers said on August 11 that the group spent N1.63 trillion on CAPEX. MTN is still awaiting CBN approval to complete the sale of a 60% fintech stake, Business Post Nigeria reported on August 10, keeping the transaction conditional. Stanbic IBTC warned on August 12 of a possible H1 filing delay, according to Punch Newspapers, while also upgrading its corporate transaction platform to FinnAxia 9.0 on August 14, reports FinTech Futures. Seplat Energy disclosed its Q2 2026 exchange rate and a special dividend on August 13, according to TradingView.
Nigerian Exchange — Legend International Jumps 10% Even as 38 Losers Outnumber Gainers
Legend International posted the NGX’s strongest move on August 17, 2026, rising 10% to NGN 4.40 while the ASI added only 0.21% in a narrow market. The stock’s rally stood out against weak breadth of 17 gainers versus 38 losers.
NGX ASI slips 0.45% as Stanbic flags possible H1 filing delay
The NGX ASI closed at 1,887.25, down 0.4536% on Aug. 14, after a weekly decline of 0.45% despite 2.37 billion insurance shares traded, according to analyst notes. Stanbic IBTC alerted the NGX to a possible delay in filing its H1 results, Punch Newspapers reported, while also upgrading its corporate transaction platform to Nucleus Software’s FinnAxia 9.0 on Aug. 14, according to FinTech Futures. Seplat Energy issued a regulatory notice on its Q2 2026 exchange rate and a special dividend on Aug. 13, according to TradingView. Stock moves stayed highly selective this week, with John Holt up 9.9% on Aug. 13 and Intels Nigeria up 10% on Aug. 12, while DANGSUGAR fell 9.1% over 5 days, according to analyst notes.