Investors Hunt for BUA Cement, Others As First Bank Set To Dispose of Shares After Otudeko’s Exit
- Nigeria’s stock market extended its positive performance, gaining 0.50% for the second time this week
- New data showed that investor interest in BUA Cement Plc, Nigerian Enamelware Plc, Neimeth International Pharmaceuticals, and other major advancers
- There is a major development in the market as First Bank plans to sell shares of Oba Otudeko, a major shareholder and former FirstBank chairman
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market posted a positive performance on Tuesday, August 5, 2025, the second consecutive gain in the week.
Data showed that the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from 144,071.78 points on Monday to 144,796.37points on Tuesday.
While market capitalisation increased to N91.608trillion on Tuesday from the preceding day of N91.149 trillion
Source: Getty Images
The market’s year-to-date (YtD) return has risen to 40.68%. BUA Cement led the league of market’s major gainers.
In addition, the market sectoral performance was positive today, as three out of the five major market sectors were up, led by the Insurance sector, which grew by (+7.51%), followed by the Industrial sector, advanced by (+3.35%), and lastly the Oil & Gas sector with a gain of (0.91%).
While the banking and Consumer goods sectors dropped by -0.86% and -0.43% respectively.
Vetiva research analysts in their trading note wrote:
“Lower interest rates and upcoming earnings-dividend expectations keep the mood bullish, but after the sharp run-up, some caution is advised."
Snapshot of the market
The market recorded 38,932 deals, investors as exchanged 1.027billion shares valued at N22. 836billion.
Top 5 gainers
- Neimeth International Pharmaceuticals Plc rose by N0.70, increasing from N7.00 to N7.70 per share (+10.00%).
- AIICO Insurance Plc gained N0.24, moving from N2.40 to N2.64 per share (+10.00%).
- Nigerian Enamelware Plc appreciated by N2.70, climbing from N27.00 to N29.70 per share (+10.00%).
- BUA Cement Plc advanced by N15.50, rising from N155.00 to N170.50 per share (+10.00%).
- Mutual Benefits Assurance Plc added N0.20, moving from N2.00 to N2.20 per share (+10.00%).
Source: Facebook
Top 5 decliners
- LivingTrust Mortgage Bank Plc dropped by N0.65, falling from N6.59 to N5.94 per share (−9.86%).
- UPDC Real Estate Investment Trust declined by N0.90, decreasing from N9.35 to N8.45 per share (−9.63%).
- Academy Press Plc lost N0.95, moving from N9.90 to N8.95 per share (−9.60%).
- Mecure Industries Plc fell by N1.60, dropping from N17.40 to N15.80 per share (−9.20%).
- Cadbury Nigeria Plc shed N5.00, down from N68.00 to N63.00 per share (−7.35%).
Top 5 trades by volume
- AIICO Insurance Plc recorded 97,102,896 shares valued at N255,285,291.60.
- Universal Insurance Plc traded 87,258,352 shares worth N71,015,963.88.
- Linkage Assurance Plc saw 64,033,211 shares exchanged, amounting to N101,338,550.29.
- Fidelity Bank Plc registered 59,213,648 shares valued at N1,247,441,167.85.
- Veritas Kapital Assurance Plc posted 50,176,367 shares worth N83,169,297.34.
Otudeko’s Stake to Be Sold
Earlier, Legit.ng reported that First Bank’s parent company, FBN Holdings Plc, has confirmed it will sell off shares previously linked to businessman Oba Otudeko, through a structured transfer involving an undisclosed special purpose vehicle (SPV).
Managing Director Wale Oyedeji made the revelation during an investor call in Lagos on Monday, August 5, 2025, stating, “We will be disposing those shares... ultimately, you will see that those shares will be disposed in the market.”
Source: Legit.ng
