NGX ASI rebounds 1.33% as Seplat, MTN and Lafarge drive headlines
The NGX ASI rose 1.3289% to 1,694.26 on May 13, after a 1.87% drop on May 12, while DAARCOMM, CWG and Fidson each gained 10%, according to the market bulletin. On the corporate front, Seplat published its quarterly results for the period ended March 31, 2026, while ADES signed a contract worth close to $100 million with Seplat, Africa Oil+Gas Report said, and AD HOC NEWS highlighted the group's earnings and cash-flow strength. MTN Nigeria delivered one of its biggest quarterly profits on record, according to Nairametrics, after transferring its fintech operations to its parent in a 152 billion naira restructuring, Marketing Edge reported. Lafarge Africa proposed a 96.64 billion naira dividend, THISDAYLIVE said, after confirming the appointment of 5 directors and the re-election of 3 others, Nairametrics reported, while NMRC's 11.5 billion naira bond offer was oversubscribed, according to LEADERSHIP Newspapers.
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NGX ASI rises 0.76% as Stanbic posts ₦551.7 bln and MTNN flags ₦921.8 mln buys
The NGX ASI closed up 0.7567% at 1,813.5 on June 29, after a 1.06% decline reported on June 26, while MTNN fell 10% on the day, according to a June 29 analyst report. MTN Nigeria disclosed insider share acquisitions worth ₦921.8 million across 5 tranches on June 29, after vesting 129,129 shares worth ₦103.3 million to 6 employees on June 22, according to TechNext.ng. Stanbic IBTC posted a record ₦551.7 billion profit for 2025 and raised its dividend, according to Marketing Edge. Seplat Energy issued 3 updates between June 25 and June 28, naming Elumelu chairman and Okon CEO, highlighting gas and production growth, and then winning an energy and dividend company award, according to THISDAYLIVE and LEADERSHIP Newspapers.
Nigerian Exchange — FCMB Falls 4.4% in 5 Days, Valuation Drops to 2.4x Earnings
FCMB Group is in focus after sliding 4.4% over 5 sessions to 9.7 NGN. With an RSI of 29.42, a 2.4x P/E and a 5.67% dividend yield, the stock combines technical pressure with compressed valuation in a tense Nigerian banking sector.
Nigerian Exchange — UPDC Jumps 9.2% as 36 Stocks Fall and MTN Nigeria Sinks 10%
UPDC rose 9.2% to 3.55 NGN on Monday even as market breadth stayed weak, with 36 decliners against 16 gainers. MTN Nigeria’s 10% drop and Dangote Sugar’s 7.3% slide point to a sharp rotation into property names and smaller caps.