NGX ASI rises 1.36% as MTN Nigeria and Seplat lead headlines
The NGX ASI closed up 1.358% at 1,815.89 on June 24, after a 0.84% decline on June 23, according to market data and analyst notes. MTN Nigeria drove 3 headlines in 3 days, committing to IFRS S1 and S2 compliance, vesting 129,129 shares worth NGN103.3 million to 6 employees, and appointing Bukola Ajayi as CIO, according to Tribune Online, TechNext.ng and CIO Africa. Seplat Energy also drew focus with Tony Elumelu's appointment as chairman, LEADERSHIP Newspapers reported. Analyst notes showed FTN Cocoa jumping 8.4% with cocoa at $4,986, while cement names fell 10%, underscoring a session shaped by sharp sector divergence.
Related stories
Nigerian Exchange — DANGSUGAR Holds Up Better Than DANGCEM With NGN 667.7m Traded
DANGSUGAR slipped just 0.3% to NGN 70.9 on the day, but is down 4.2% over five sessions. The stock is holding up far better than DANGCEM, which has fallen 18.4% over the same stretch, even as the broader Nigerian market posts an index rebound.
Market Bulletin Ellah Lakes Plc's Debt to Equity Conversion
NGX ASI falls 0.84% as FCMB drops 6.5% despite Guinea Insurance's 10% jump
The NGX ASI closed at 1,791.56, down 0.8424% on June 23, while Guinea Insurance jumped 10% despite the broader decline, according to analyst notes. FCMB fell 6.5% to NGN10.15, deepening pressure on bank stocks, after GTCO's 10% gain on June 22 had masked a more fragile market, analysts said. Away from the index, MTN Nigeria vested 129,129 shares worth NGN103.3 million in 6 employees and appointed Bukola Ajayi as CIO, according to TechNext.ng and CIO Africa. In energy, Tony Elumelu was appointed Seplat Energy chairman, according to LEADERSHIP Newspapers, while ARADEL slipped 4.6% over 5 days despite Brent at $77.54, analysts said.