Nigeria: Equities Market Rebounds by 0.52% as Transcorp, BUA Cement, Fidson Drive Gains

NGX ASI rebounds 1.33% as Seplat, MTN and Lafarge drive headlines

The NGX ASI rose 1.3289% to 1,694.26 on May 13, after a 1.87% drop on May 12, while DAARCOMM, CWG and Fidson each gained 10%, according to the market bulletin. On the corporate front, Seplat published its quarterly results for the period ended March 31, 2026, while ADES signed a contract worth close to $100 million with Seplat, Africa Oil+Gas Report said, and AD HOC NEWS highlighted the group's earnings and cash-flow strength. MTN Nigeria delivered one of its biggest quarterly profits on record, according to Nairametrics, after transferring its fintech operations to its parent in a 152 billion naira restructuring, Marketing Edge reported. Lafarge Africa proposed a 96.64 billion naira dividend, THISDAYLIVE said, after confirming the appointment of 5 directors and the re-election of 3 others, Nairametrics reported, while NMRC's 11.5 billion naira bond offer was oversubscribed, according to LEADERSHIP Newspapers.

Nigerian Exchange — DAARCOMM, CWG and Fidson Jump 10% as Mid-Caps Drive NGX ASI Up 1.33%

The NGX ASI rose 1.33% on May 13, 2026, as mid-cap buying lifted DAARCOMM, CWG and Fidson by 10% each. The rally broadened across the market even as First HoldCo, NGX Group and several financial names closed lower.

Market Bulletin Activation of Sovereign Trust Insurance Plc's Rights