BUA Cement profit jumps as NGX ASI slips 0.21%
The NGX ASI fell 0.207% to 1,653.22 on April 23, while some stocks outperformed, with Unilever Nigeria rising 10% despite the broader decline, according to analyst notes. BUA Cement more than doubled profit and lifted Q1 2026 revenue by 22.1% to NGN355 billion, according to Businessday NG and westernpost.ng. MTN Nigeria and Airtel Africa suspended airtime and data lending, Proshare reported. MTN Nigeria is also set to begin compensating subscribers after an NCC directive on service quality, according to Techpoint Africa and Nairametrics.
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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.
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