NGX ASI: Nigeria’s All-Share Index
The Nigerian Exchange’s All-Share Index (NGX ASI) gained 0.19%, closing at 245,748.31 bps on Monday, August 3, 2026, validating the strength of its support zones at 245,431.10 bps and 244,289.06 basis points. In line with this performance, the index’s liquidity and momentum renewed their strength. Also, volume closed strongly above its moving average. However, investors should be cautious as MACD commenced its bearish signal amid market recovery.
NGXBNK: Banking Sector Index
The banking sector index gained 0.75%, closing at 2,546.57 bps. During intraday trading, it briefly recovered, ending with a strong bullish momentum. If this continues, investors should expect resistance at 2,677.69 bps and 2,782.02 bps.
On the daily chart, the index’s liquidity and momentum regained their strength. However, MACD sustained its bullish divergence, meaning investors should prepare for a potential bearish rally.
Top gainers: UBA (+3.37%), FIRSTHOLD (+3.43%), ZENITH (+1.09%), GTCO (+0.77%), ACCESSCORP (+0.19%), and FIDELITY (+1.16%)
Top losers: ETI (-9.95%), FCMB (-1.75%), and WEMABANK (-0.52%)
NGXCSMG: Consumer Goods Sector Index
The consumer goods index gained 1.05% and closed at 7,014.59 bps. During intraday trading, the index experienced profit-taking and renewed its bullish momentum, closing above the moving average. This performance suggests a continuous bullish sentiment.
On the daily chart, volume closed moderately strong. Also, money flow and RSI regained momentum, signaling strong bullish momentum. However, MACD sustained its bullish divergence signal. Thus, investors should expect a potential bearish rally.
Top gainer: HONEYFLOUR (+4.11%)
Top loser: NAHCO (-3.87%)
NGXIND: Industrial Sector Index
The industrial sector index experienced a fractional gain of 0.21%, closing at 10,546.78 basis points. This performance sustained the index’s recovery strength above its moving average. On the 60-min chart, the index did not make any significant move; however, the index remained above its moving average.
In line with this performance, the bullish volume closed moderately strong. Also, money flow and RSI regained their momentum, closing at 54 and 50, respectively. Despite these strong sentiments, MACD sustained its bullish divergence signal. Thus, investors should expect a potential bearish rally.
Top gainer: HBMNG (+1.21%)
NGXOGSE: Oil and Gas Sector Index
The oil index shed 0.09%, closing at 5,237.40 bps. During intraday trading, the index didn’t make any significant change in points. Thus, it remained below its moving average. In line with this performance, the bearish volume closed strongly above its moving average. Also, the index’s momentum remained flat, while liquidity declined.
Top gainer: ETERNAO (+10%)
NGXINS: Insurance Sector Index
The insurance index lost 1.78% and closed at 1,178.75 bps. During intraday trading, the basis point retraced to the 0.5 Fibonacci level. Thus, investors should expect continuous bullish momentum.
In line with this performance, the bearish volume closed strongly above its moving average. Also, the index’s liquidity and momentum declined, signaling profit-taking. Also, MACD’s bullish momentum signaled divergence.
Top gainers: CORNERS (+3.70%), LINKASS (+1.88%), and CONHALLPLC (+1.08%)
Top losers: WAPIC (-9.80%), REGALIN (-9.09%), VERITASKAP (-8.39%), SUNUASSUR (-8.11%), LASACO (-5.09%)
Market Analyst Insight
Investors should watch MACD’s divergence signal for a potential trend reversal. The banking, insurance, industrial, and consumer goods indices show signs of a bearish market, following MACD’s divergence signal. Thus, if the bearish sentiment continues, it’s an opportunity for investors to buy into value. Amid this sentiment, investment opportunities remain visible.
