NGX ASI: Nigeria’s All-Share Index
The Nigerian Exchange All-Share Index (NGX ASI) gained 0.41% and closed at 244,304.52 basis points. During intraday trading, the index attempted to break its resistance level at 244,289.06 basis points. This performance put the index in a critical zone while strengthening its recovery phase.
In line with this performance, the index’s bullish volume, momentum, and liquidity remained strong, reflecting sustained investor interest. Also, MACD’s bearish momentum remained flat.
NGXBNK: Banking Sector Index
The banking index closed at 2,548.00 bps, up 0.08%. Solid volume, liquidity, and momentum supported this modest bullish momentum. During intraday trading, the index saw a brief pullback and sustained its bullish momentum to end the day.
Top gainers: WEMABANK (+2.75%), ACCESSCORP (+1.59%), ZENITH (+1.67%), FCMB (+0.46%), UBA (+0.46%)
Top loser: ETI (-10%)
NGXCSMG: Consumer Goods Sector Index
The consumer goods index gained 0.46% and closed at 7,210.26 bps. During intraday trading, the index sustained its bullish momentum above its moving average. This performance strengthened the index’s recovery on the daily chart. In line with this performance, the index’s liquidity, momentum, and volume closed strongly, attracting investment opportunities.
Top gainers: NB (+4.43%), UCAP (+1.80%)
Top losers: PZ (-9.52%), HONEYFLOUR (-7.14%), NEIMETH (-5.00%), NAHCO (-2.49%)
NGXIND: Industrial Sector Index
The industrial index lost 0.58% and closed at 9,936.57 bps. The index sustained its bearish momentum and closed the day with bullish momentum during intraday trading. This performance strengthened the index’s bearish volume on the daily chart. However, due to the brief bullish momentum, liquidity and MACD’s bearish momentum remained flat. This performance suggests renewed interest in the sector.
Top gainers: HBMNG (+1.53%), CAP (+0.49%)
Top loser: BUACEMENT (-2.91%)
NGXOGSE: Oil and Gas Sector Index
The oil and gas index gained 3.79% and closed at 6,035.23 bps. The index experienced strong bullish momentum and closed within the Fibonacci’s critical zone. Also, it broke its resistance level at 5,841.86 bps, strengthening the index’s recovery. In line with this performance, the index’s liquidity, momentum, and volume remained solid, attracting investment opportunities.
NGXINS: Insurance Sector Index
The insurance index lost 0.18% and closed at 1,051.62 bps. During intraday trading, the index consolidated sideways as profit-taking and discount investing prevailed. The bearish volume closed strongly above its moving average, aligning with the index’s overall sentiment. Notably, the index’s bearish divergence signal and liquidity improved. Thus, investors should watch for potential bullish momentum.
Top gainers: SOVRENI (+9.50%), WAPIC (+7.69%), INTENEG (+3.17%), REGALIN (+2.82%)
Top losers: PRESTIGE (-8.72%), MBENEFIT (-3.78%), LASACO (-2.26%), CONHALLPLC (-1.38%), CORNERS (-0.96%)
Market Analyst Insight
The overall market sustained its recovery amid a strong bearish phase. This performance showcases the NGX’s resilience and investor interest in Nigeria’s Stock market. As investors focus on the recent IPO, they should watch the banking, oil, industrial, and consumer goods sectors. These sectors are in critical zones and need a breakout to determine their outlook.
