NGX ASI: Nigeria All-Share Index
The NGX ASI shed 0.18% to close at 251,861.23 basis points. This performance improved MACD’s bearish momentum, signalling continued bearishness and profit-taking. Despite this bearish momentum, the index’s liquidity and relative strength remained solid, portraying market resilience and sustainability.
NGXBNK: Banking Sector Index
The banking sector lost 0.6% and closed at 2,345.43 bps. This performance sustained the index’s markdown, offering investors an opportunity to buy in stages. In line with this performance, the index’s liquidity and relative strength remained low and flat. However, MACD sustained its divergence performance, preparing for a trend reversal
Top gainers: ETI (+6.93%), WEMABANK (+3.45%), IBTC (+0.56%)
Top losers: FIRSTHOLD (-3.74%), UBA (-2.38%), ACCESSCORP (-1.63%), ZENITH (-0.52%), FIDELITY (-0.40%)
NGXCSMG: Consumer Goods Sector Index
The consumer goods index lost 0.77% to close at 6,894.18 basis points. At this level, investors should watch for a potential recovery as the index approaches its support level at 6861.60 bps. In line with this sentiment, MACD sustained its divergence signal, preparing for a trend reversal. However, improved liquidity and relative strength should confirm the index’s outlook.
Top gainers: HONYFLOUR (+2.48%), REDSTAR (+1.21%), NEIMETH (+0.72%)
Top loser: AFRIPRUD (-5.12%)
NGXIND: Industrial Sector Index
The industrial index closed at 12,336.71 bps. During intraday trading, the index did not change in points. However, the index closed bearish as MACD sustained its bullish divergence signal. While the NGXIND’s relative strength and liquidity remained solid, investors should watch for improved momentum
NGXOGSE: Oil and Gas Sector Index
The oil and gas index rose 0.03% to close at 5,879.41 bps. The index sustained its steady bullish momentum with strong volume and improved liquidity. In line with this performance, MACD sustained its bearish divergence signal, preparing for a trend reversal. Investors should watch money flow and RSI for improved liquidity and momentum to determine the index’s support level strength.
NGXINS: Insurance Sector Index
The insurance index fell 0.29% to close at 1,050.61 bps. This performance signifies profit-taking as investors renew their interest in the sector. In line with this performance, the index’s bearish volume closed strongly above its moving average. However, the NGXINS’s liquidity and relative strength continuously improved, strengthening MACD’s bullish volume.
Top gainers: CORNERS (+2.50%), PRESTIGE (+2.19%), CONHALLPLC (+0.86%), INTENEG (+0.59%)
Top losers: SOVRENI (-2.16%), AIICO (-2.06%), MBENEFIT (-1.03%), NEM (-0.52%), MANSARD (-0.37%)
