NGX ASI rises 1.25% as Seplat and banks get support from S&P
The NGX ASI rose 1.245% to 1,711.75 on May 21, extending a rebound that started after a 4-session losing streak, after BUA Cement and large-cap banks helped snap that run on May 19, according to Nairametrics. S&P upgraded ratings on May 21 for 7 institutions, including Access, GTB, Stanbic IBTC, Standard Chartered, UBA and Zenith, according to THISDAYLIVE. Seplat Energy expanded its asset base and projects $1 billion in dividends as part of its growth drive, according to LEADERSHIP Newspapers, while the stock climbed 11% in 5 days, according to analyst notes. Tony Elumelu is set for a Seplat board role after a landmark $500 million energy deal, TTYBrand Africa reports, while Eterna was active after the May 20 listing of its rights issue, according to the market bulletin and analyst reports.
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MTN Nigeria posts N1.09tn H1 profit as NGX ASI rises 1.05%
The NGX ASI closed at 1774.11, up 1.0474% on July 31, after posting a 1.05% weekly gain according to analyst reports. MTN Nigeria reported a record N1.09tn pre-tax profit for H1 2026 and declared a N26 interim dividend, Arise News reported, despite recent pressure on the stock flagged by analysts. Seplat signed a $281.6 million deal to sell a 10% JV stake to NNPC while retaining operatorship, according to Arise News, after the stock fell 2.0% over 5 days in analyst notes. The weekly advance was also led by Eterna and insurers, while DANGCEM jumped 8.7% and NGXGROUP gained 18.9% over 5 days, analyst reports showed.
Nigerian Exchange — DANGSUGAR Stalls at 78.7 NGN as DANGCEM Jumps 8.7%
DANGSUGAR closed at 78.7 NGN after a nearly flat 5-day run of -0.3%, while DANGCEM climbed 8.7% to 1,047 NGN. The divergence shows the Nigerian market is currently rewarding infrastructure and yield exposure more than sugar.
Nigerian Exchange — NGX ASI Gains 1.05% as Eterna, Insurers Rally While MTN Drags
The NGX ASI rose 1.05% in the week to July 31, 2026, led by Eterna (+10.0%), Consolidated Hallmark (+10.0%) and Regency Alliance (+10.0%). Trading value was dominated by Seplat, while Fortis Global Insurance’s debt-to-equity conversion pushed insurers back into focus.