NGX ASI: Nigeria’s All-Share Index
The Nigerian Exchange’s All-Share Index (NGX ASI) experienced a fractional gain of 0.06% and closed at 242,378.12 basis points. This performance suggests a recovery phase is on the horizon. In line with this sentiment, the index’s volume, momentum, and liquidity improved. However, MACD sustained its bullish divergence signal, warning investors of a continued bearish market.
NGXBNK: Banking Sector Index
The banking index gained 0.69% and closed at 2,510.84 bps. As expected, the index continued its bullish momentum after experiencing bearish exhaustion on Wednesday. On the daily chart, this bullish momentum acts as the support level.
Notably, MACD’s bearish momentum strengthened amid this recovery signal. In this case, investors watch for continuous bullish momentum to determine the sector’s outlook. Volume remained moderately strong, while liquidity and momentum improved.
Top gainers: ACCESSCORP (+5.66%), UBA (+2.21%), GTCO (+1.48%), FCMB (+0.47%), ZENITH (+0.40%)
Top losers: FIDELITY (-1.58%), IBTC (-0.73%)
NGXCSMG: Consumer Goods Sector Index
The consumer goods index gained 1.16% and closed at 7,104.26 bps. The index attempted to close above its moving average, following the strong bullish momentum during intraday trading.
In line with this performance, the index’s liquidity and momentum increased and closed strongly above their threshold. Yet, MACD initiated a bearish signal. Thus, investors should watch for a continuous bullish signal.
Top gainers: AFRIPRUD (+4.88%)
Top losers: UCAP (-1.46%), ROYALEX (-1.00%)
NGXIND: Industrial Sector Index
The industrial index shed 0.04% and closed at 9,994.86 bps. In line with this performance, the index’s liquidity and momentum declined drastically. Also, the bearish volume closed strongly above its moving average.
Top losers: CUTIX (-6.78%), HBMNG (-0.23%)
NGXOGSE: Oil and Gas Sector Index
The oil index gained 0.79% and closed at 5,807.48 bps. During intraday trading, the index experienced strong bearish momentum and recovered with strong bullish sentiment. In line with this performance, the index’s volume, liquidity, and momentum closed strong. Notably, MACD sustained its bullish divergence signal, warning investors of a potential bearish market.
Top gainer: SEPLAT (+10%)
NGXINS: Insurance Sector Index
The insurance sector lost 0.42% and closed at 1,038.76 bps. The index traded within its 52-week low and met support at 1,018.60 bps. In line with this performance, the index’s liquidity and momentum declined drastically. Also, MACD initiated its bearish signal. Investors should watch for continued bullish momentum.
Top gainers: SOVRENI (+5.00%), MBENEFI (+2.48%), LINKASS (+1.18%), LASACO (+1.14%), INTENEG (+0.88%)
Top losers: REGALIN (-6.25%), AIICO (-3.05%), WAPIC (-1.82%), CORNERS (-0.95%), CONHALLPLC (-0.67%)
