NGX ASI falls 1.69% despite record profits at BUA Cement and Transcorp Power
The NGX ASI fell 1.6916% to 1,597.63 on April 28, even as several heavyweight companies posted strong first-quarter numbers. BUA Cement reported a 117% jump in Q1 2026 profit to 176.4 billion naira on revenue up 22.1% to 355 billion naira, according to Independent Newspaper Nigeria and THISDAYLIVE, while BUACEMENT rose to 335.0 naira despite a 0.50% index drop, according to an analyst report. Transcorp Power posted 30 billion naira in Q1 2026 profit and declared a total dividend of 41.25 billion naira, with output raised to 550 MW, according to MarketForces Africa and LEADERSHIP Newspapers. Nigerian Breweries reported a 25.6% rise in Q1 2026 profit to $41.3 million, according to Food Business Middle East & Africa, while FTN Cocoa surged 10% on April 28 despite the broader market decline, according to an analyst report.
Related stories
NGX rises 1.28% as MTN’s N3 trln revenue and Seplat’s $164 mln profit lift mood
The NGX ASI closed at 1,856.34, up 1.2777%, extending its weekly gain to 1.28% as Access and UBA led a rebound despite 27 decliners, according to Afrivestia analysts. MTN Nigeria dominated the tape with H1 revenue of nearly N3.0 trillion, net profit of N707.5 billion up 70.6% to 71%, 4.9 million new subscribers and an interim dividend of N26, according to Independent Newspaper Nigeria, Telecom Review Africa, Techeconomy, Investors King and Proshare. The group also cleared its FX debt, opening a new investment phase, while an FCCPC crackdown on airtime lending wiped out nearly 75% of fintech revenue, Business News Nigeria reported. In energy, Seplat Energy posted H1 profit after tax of $164 million, up 498%, while NNPC wants to acquire 10% of its JV for $281.6 million, according to Daily Trust and Punch Newspapers. In materials, cement companies lifted H1 profit by 40% to N1.17 trillion, while BUA Cement wants to add 3 mmtpa through a greenfield plant and a brownfield project after approving a N10.00 per share dividend, according to The Guardian Nigeria News, LEADERSHIP Newspapers and Proshare.
Nigerian Exchange — INTENEGINS slides 5.8% in 5 days as NGX ASI rises 1.28%
INTENEGINS fell 5.8% over five sessions to 4.04 NGN, underperforming a 1.28% rise in the NGX ASI. With an RSI of 40.29, a P/E of 18.4 and high risk, the stock is showing relative weakness in a sharply mixed insurance segment.
Nigerian Exchange — NGX Gains 1.28% for Aug. 3-7 Week as Access, UBA Lift Trade Despite 27 Decliners
The NGX rose 1.28% in the week ended August 7, 2026, led by financials and telecom even as breadth stayed weak at 17 gainers versus 27 losers. Access Holdings, UBA and GTCO drew heavy turnover in a market still tied to naira stability and oil prices.