Nigeria’s ASI rises 1.04%, lifted by cement and telecom names
Nigeria’s NGX ASI rose 1.04% to 1,847.86 on June 2, while Transexpress jumped 7.1% and DANGSUGAR rebounded 1.2% to NGN72 after a 17.2% five-day slide, according to analyst notes. Cement names dominated the corporate flow, with Lafarge Africa reporting NGN1.10 trillion in 2025 revenue and NGN411 billion in pretax profit, then NGN98 billion in Q1 2026 profit, while BUA Cement spent NGN4.5 billion on distributors, according to Proshare and THISDAYLIVE. Telecom headlines added support, with MTN Nigeria reporting 93.7% population coverage, NGN2.7 billion invested in communities, a 6.4% emissions cut and NGN878.7 billion to NGN879 billion in tax remittances, according to Encomium Magazine, The Guardian Nigeria News, Punch Newspapers and Business News Nigeria. In financials, Stanbic IBTC secured approval for a NGN4 dividend per share and Fidson Healthcare listed its rights issue, according to Investors King and market bulletins.
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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.