Nigeria: NGX ASI climbs 1.98% to 1500.82, BUA Cement hits record
The NGX ASI index climbed 1.98% to close at 1500.82, driven by BUA Cement hitting a record high ahead of a N10 dividend proposal, according to MarketForces Africa. Listed cement firms distributed N1.380 trillion in total dividends, reports LEADERSHIP Newspapers, while MTN Nigeria posted 55% earnings growth, per TechAfrica News. Market capitalization advanced N923 billion week-on-week on buying interest in BUA Cement, notes THISDAYLIVE, reversing the prior -0.77% decline seen on March 13.
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The NGX ASI closed at 1,799.88, down 1.0647% on June 26, while IKEJAHOTEL rose 10% and BUACEMENT fell 17.8% over 5 days, according to analyst notes. Stanbic IBTC posted a record NGN551.7 billion profit in 2025 and raised its dividend, Marketing Edge reported. Seplat Energy appointed Elumelu as chairman and Okon as CEO to lead its next growth phase, while the company highlighted gas growth and production expansion, according to THISDAYLIVE and LEADERSHIP Newspapers. MTN Nigeria committed to ethical conduct with compliance with IFRS S1 and S2, Tribune Online reported.
Nigerian Exchange — BUACEMENT Slides 17.8% in 5 Days Despite 2.94% Yield
BUACEMENT fell 17.8% over five sessions, from 414.0 NGN to 340.2 NGN, as the Nigerian market dropped 1.06% on Friday. The pullback leaves the stock at an RSI of 41.81, but valuation still looks demanding at a 32.4 P/E.