NGX ASI: Nigerian All-Share Index
The NGX ASI rose 0.47% to close at 254,083.02 basis points. The index closed near its 52-week high after meeting strong resistance at 254,295 basis points. This performance erased its previous loss, setting up a potential trend reversal.
In line with this performance, the index’s relative strength, liquidity, and volume remain strong. MACD also sustained its bullish momentum. Investors should watch for attractive investment opportunities amid this strong recovery phase.
NGXBNK: Banking Sector Index
The banking index lost 2.10% and closed at 2,461.21 bps. After forming a morning star candlestick, the index continued its bearish momentum on solid volume. In line with this performance, MACD initiated its bearish signal. The index’s liquidity remained flat, while its relative strength declined. Investors should watch 2,413.91 bps as a potential support zone.
Top gainers: FCMB (+3.70%), ETI (+2.90%), ACCESSCORP (+1.90%)
Top losers: FIRSTHOLD (-10%), WEMABANK (-0.32%), UBA (-0.23%), GTCO (-0.08%)
NGXCSMG: Consumer Goods Sector Index
The consumer goods index fell 1.46% to close at 7,155.12 bps. This performance closed below the index’s moving average, approaching its support level at 6,861.60 basis points. In line with this performance, the index’s relative strength and money flow declined. MACD also initiated its bearish signal, aligning with the market sentiment.
Top gainers: ETRANZA (+10%), AFRIPRUD (+1.92%), PZ (+1.55%)
Top losers: ROYALEX (-3.00%), HONYFLOUR (-2.38%), NB (-0.34%)
NGXIND: Industrial Sector Index
The industrial sector index gained 3.41% to close at 12,199.47 bps. This performance sustained the index’s strong recovery phase as it approached its major resistance level at 12,415.64 bps. In line with this performance, the index’s relative strength, liquidity, and volume strengthened. The main driver of this bullish momentum is Dangote Cement, gaining 5.82%.
NGXOGSE: Oil and Gas Sector Index
The oil and gas index rose 0.5% to close at 6,089.25 bps. This performance improved the index’s volume, relative strength, and liquidity. As the index consolidates, investors should watch MACD for divergence signals.
NGXINS: Insurance Sector Index
The insurance stock gained 0.75% and closed at 1,037.04 bps. This performance improved the index’s liquidity, relative strength, and volume. Notably, MACD commenced its divergence signal. This performance signalled renewed and sustained interest in this sector. Thus, investors should watch for continuously improving market momentum.
