NGX falls 0.97% despite strong showings from BUA Cement and MTN
The NGX ASI closed at 1491.57 points, down 0.97% on Wednesday. This decline comes despite BUA Cement's recent surge of 10% to ₦326.7 earlier in the week, according to Nairametrics. MTN Nigeria also became the group's biggest profit engine, overtaking South Africa, reports Business Insider Africa. Insurers gained on capital raise news while oil stocks like Aradel and Presco declined.
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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.