MTN drops 8.6% despite N1.11 trln profit as NGX ASI rises 0.31%
The NGX ASI closed at 1,660.35, up 0.3081% on May 5, while MTN Nigeria fell 8.6% despite reporting N1.11 trillion profit after tax for FY 2025, according to Proshare and analyst notes dated May 5. MTN Nigeria also posted strong Q1 growth, with revenue and profit rising, reports Telecom Review Africa, but the stock’s decline set the tone for the session. Lafarge Africa reached N5.6 trillion in market value after profit surged 101%, according to MarketForces Africa, and proposed a N96.64 billion dividend, westernpost.ng reports. Elsewhere, DANGSUGAR jumped 16.9% in 5 days and NASCON rose 17.8%, while RT Briscoe, McNichols and Zichis each gained 10%, according to analyst notes.
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NGX ASI rises 1.65% as MTN and Lafarge drive the session
The NGX ASI rose 1.6521% to 1,687.78 on May 6, with AIICO and CAP up 10% according to analyst notes. MTN Nigeria said it transferred its fintech operations to its parent company in a 152 billion naira restructuring, while Proshare reported 2025 profit after tax of 1.11 trillion naira and a share price of 760 naira. Lafarge Africa reached a 5.6 trillion naira market value after profit surged 101%, and westernpost.ng reported a proposed 96.64 billion naira dividend. Analyst notes added that DANGSUGAR jumped 34.3% in 5 days to 90 naira, extending momentum already seen in consumer names.
Nigerian Exchange — DANGSUGAR Jumps 34.3% in 5 Days to 90 NGN
DANGSUGAR surged 34.3% in five sessions and added 6.8% on Wednesday to 90 NGN, ranking among the NGX’s most active names. The move far outpaced the NGX ASI’s 1.65% gain and leaves the stock in a stretched technical zone, with RSI at 74.55.
Nigerian Exchange — AIICO and CAP Jump 10% as NGX All Share Index Gains 1.65%
AIICO and CAP led the Nigerian market with 10% gains each as advancers beat decliners 43 to 22. A 7.5% drop in Brent to $101.6 and a firmer naira at 1,356.55 per dollar helped shift attention toward domestic-facing equities.