Nigeria’s All Share Performance for May 4th, 2026
The NGX All-Share Index, on Monday, gained 0.36%, closing at 243,158.97 basis points, a new all-time high as the market continued its April markup performance. The companies that supported the bullish rally included CONHALLPLC (+10%), FTNCOCO (+10%), CAP (+9.99%), AIICO (+9.98%), and DANGSUGAR (+9.97%)
The indicators for the NGXASI remained strongly bullish with 41 winners against 29 losers. The liquidity, volume, and momentum remained sturdy, attracting favorable investment opportunities. How did other sectoral indices perform?
Sectoral Index Performance
NGXBNK: Banking Sector Index
The banking index continued its recovery phase, gaining 0.41% above its moving average. The index ended April with a strong pullback. This pullback commenced a distribution phase with 2,194.97 as its support level and 2,348.08 as its potential resistance level. The companies that made a significant impact include IBTC (+9.70%) and GTCO (3.70%).
Despite experiencing six losers against four winners, the index’s bullish volume was moderately strong above its moving average. According to RSI and MFI, the index gained liquidity and momentum. Finally, stochastic confirmed that the index offers favorable investment opportunities. Also, MACD’s bearish momentum strengthens, aligning with the market’s distribution phase.
NGXCSMG: Consumer Goods Sector Index
The consumer goods sector loss 0.08%, above its moving average. The index continued its distribution phase, following April’s strong markup phase. Currently, the index closed at 6,514.08 within its resistance zone (6,525.52). Notable contributors included top gainers in the banking sectors, DANGSUG (+9.70%), SUNUASSR (8.75%), and NACHO (-12%)
The bearish volume was strong, with 13 losers against 10 winners in the index. In line with this performance, MFI indicated stagnant market liquidity above its threshold (50). RSI declined slightly, indicating momentum loss in the index. MACD commenced its bearish signal to reflect the current market sentiment. Finally, stochastic indicated that the index offers favourable investment opportunities.
NGXIND: Industrial Sector Index
The industrial sector gained 1.08%, closing at 11,398.41. The index recorded a new all-time high at 11,398.43. This performance signifies the continuous interest of investors in this index. Notable contributors included CAP (+9.99%) and BUACEMENT (2.61%).
The NGXIND continued to reinforce its bullish momentum with strong volume, liquidity and momentum. Investors should also prepare for a pullback as stochastic remained solid in its overbought region, with a reading of 100.
NGXOGSE: Oil and Gas Sector Index
The NGXOGSE declined by 0.89%, closing at 6,043.31. This decline marks the beginning of the index’s distribution phase after a strong markup. The performance should correct the market for another bullish run.
The bearish volume for the oil index closed moderately strong above its moving average. However, MFI signaled that the market liquidity increased. This performance reveals a sustained investor interest in the sector. In line with this performance, MACD reinforced its bullish momentum. Though RSI’s momentum slightly declined, it remains strong. Finally, stochastic indicated that profit-taking prevailed in the market.
NGXINS: Insurance Sector Index
Following a strong markdown phase, the insurance sector gained 1.25%. The index closed at 1,201.37 above its moving average and strong support level (1,195.58). This performance further reinforces the strength of the index’s support level. The companies that contributed to the bullish sentiment include CONHALLPLC (+10%), AIICO (+9.98%), SOVRENI (+9.62%), SUNUASSUR (+8.75%), and LINKASS (+7.41%).
With seven strong winners against six losers, the index bullish volume closed strongly above its moving average. MACD sustained its bullish momentum as other indicators recover for a bullish trend rally.
Final Thought
The banking sector index offers a brief investment opportunity since it remained within the distribution phase. For the consumer goods index, further action is required to determine the index trajectory. The industry sector remains strongly bullish; yet investment remains risky. On the other hand, the insurance and oil sector offers good investment opportunities.
