NGX gains 1.08% fueled by BUA Cement rally and dividend payouts
The NGX ASI closed at 1516.99 points, up 1.08%, according to market data. Market capitalization advanced by 923 billion naira week-on-week, driven by buy interest in BUA Cement, reports THISDAYLIVE. BUA Cement rallied to a record high ahead of a N10 dividend proposal, while Lafarge Africa hit a 52-week high following a 400% dividend surge, according to MarketForces Africa. Listed cement firms rewarded shareholders with N1.380 trillion in dividend payouts, reports LEADERSHIP Newspapers.
Related stories
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.