NGX flat; MTN and Seplat drive headlines as GTCO jumps 10%
The NGX ASI closed at 1,806.78, up 0.0094% on June 22, after a weekly gain of 0.09% as of June 19 despite 32 decliners, according to market data and an analyst report. Banks set the tone, with GTCO surging 10% on June 22, while ARADEL fell 4.6% over 5 days despite Brent at $77.54 and DANGSUGAR dropped 8.8% over 5 days, according to analyst reports. On the corporate front, MTN Nigeria appointed Bukola Ajayi as CIO on June 22, while CFO Modupe Kadri bought 1,589,041 shares worth N1.25 billion over 3 days, TechNext.ng reported. MTN Nigeria also partnered with First WATT Renewable to deploy 34 MWp of solar and 40 MWh of battery storage across critical facilities, according to SolarQuarter and FSX Business, while Seplat Energy appointed Elumelu chairman and Okon CEO, THISDAYLIVE reported. Separately, Africa’s largest bank is backing the Dangote Refinery IPO, Techeconomy reported.
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NGX rises 1.28% as MTN’s N3 trln revenue and Seplat’s $164 mln profit lift mood
The NGX ASI closed at 1,856.34, up 1.2777%, extending its weekly gain to 1.28% as Access and UBA led a rebound despite 27 decliners, according to Afrivestia analysts. MTN Nigeria dominated the tape with H1 revenue of nearly N3.0 trillion, net profit of N707.5 billion up 70.6% to 71%, 4.9 million new subscribers and an interim dividend of N26, according to Independent Newspaper Nigeria, Telecom Review Africa, Techeconomy, Investors King and Proshare. The group also cleared its FX debt, opening a new investment phase, while an FCCPC crackdown on airtime lending wiped out nearly 75% of fintech revenue, Business News Nigeria reported. In energy, Seplat Energy posted H1 profit after tax of $164 million, up 498%, while NNPC wants to acquire 10% of its JV for $281.6 million, according to Daily Trust and Punch Newspapers. In materials, cement companies lifted H1 profit by 40% to N1.17 trillion, while BUA Cement wants to add 3 mmtpa through a greenfield plant and a brownfield project after approving a N10.00 per share dividend, according to The Guardian Nigeria News, LEADERSHIP Newspapers and Proshare.
Nigerian Exchange — INTENEGINS slides 5.8% in 5 days as NGX ASI rises 1.28%
INTENEGINS fell 5.8% over five sessions to 4.04 NGN, underperforming a 1.28% rise in the NGX ASI. With an RSI of 40.29, a P/E of 18.4 and high risk, the stock is showing relative weakness in a sharply mixed insurance segment.
Nigerian Exchange — NGX Gains 1.28% for Aug. 3-7 Week as Access, UBA Lift Trade Despite 27 Decliners
The NGX rose 1.28% in the week ended August 7, 2026, led by financials and telecom even as breadth stayed weak at 17 gainers versus 27 losers. Access Holdings, UBA and GTCO drew heavy turnover in a market still tied to naira stability and oil prices.