Nigerian Exchange (NGX) Performance for 18th June, 2026
The Nigerian Exchange (NGX) sustained it bearish sentiment and strengthened its markdown phase. This consisted of profit-taking, support breakouts, and low liquidity. Despite the strong bearish momentum, the money flow reading in the insurance sector tells investors a different story, making it a sector to watch
NGX ASI: Nigeria’s All-Share Index
The NGXASI lost 1.27%, closing at 237,748.30 basis points. This performance signals a continuous bearish sentiment, as the index broke its support level and closed within the 0.382 Fibonacci retracement level.
Daily chart indicator analysis for NGXASI
The NGXASI remained weak according to the indicators. In other words, the index liquidity and momentum closed low, while MACD’s bearish momentum strengthened. Also, the bearish volume closed fairly strong.
Key Sectoral Index Performance
NGXBNK: Banking Sector Index
On the daily chart, the banking sector lost 1.48%, closing at 2,152.96 bps. The index retraced 2.36% from its current resistance level, closing within the 0.618 Fibonacci level. This performance strengthened the index’s markdown phase. Notable contributors included FIDELITY (-3.19%), ZENITH (-2.94%), WEMABANK (-2.50%), IBTC (-2.16%), and ACCESSCORP (-2.13%)
Daily chart indicator analysis for NGXBNK
The bearish volume closed strongly above its moving average, signalling a continuous bull market. In line with this performance, the market liquidity and momentum remained weak as MACD’s bearish momentum strengthened.
NGXCSMG: Consumer Goods Sector Index
The consumer good index lost 1.22%, closing at 6,121.57 bps. This performance signifies a continuous bearish momentum. The index broke its support level and closed within the 0.618 Fibonacci sequence. Notable contributors included AFRIPRU (-10%), NEM (-9.09%), and DANGSUGAR (-6.54%).
Daily chart indicator analysis for NGXCSMG
The index’s bearish volume closed strongly above its moving average. In line with this performance, the market liquidity and momentum remained weak. Also, MACD’s bearish momentum regained its strength
NGXIND: Industrial Sector Index
On the daily chart, the industrial index lost 3.42%, closing at 11,194.09 bps. This performance indicates continuous profit-taking as investors buy into value. Notable contributors included TRIPPLE (-10%) and DANGCEMENT (-3.60%).
Daily chart indicator analysis for NGXIND
Further profit-taking occurred in this sector as the blue-chip industrial company, Dangcote Cement, declined. This increases the bearish volume and MACD’s bearish momentum. In line with this performance, the index liquidity and momentum declined.
NGXOGSE: Oil and Gas Sector Index
The oil sector index lost 0.14%, closing at 5,508.22 bps. Given this performance, the index remained in its distribution phase. Also, this signals a continuous bearish sentiment, aligning with the overall market perception.
Daily chart indicator analysis for NGXOGSE
The bearish volume closed moderately strong. In line with this performance, the market liquidity and momentum remain low. On the other hand, MACD sustained its divergence signal as the market is in its distributive phase.
NGXINS: Insurance Sector Index
The insurance sector experienced a strong bearish momentum, losing 2.83%. Closing at 1,186.46 bps, the index broke its strong support level. This performance signals a continuous bearish sentiment. Notable contributors included INTENEG (-9.25%), NEM (-9.09%), CONHALLPLC (-6.91%), VERITASKAP (-3.33%), and SUNUASSUR (-2.96%).
Daily chart indicator analysis for NGXINS
The bearish volume closed fairly strong. Also, the market momentum declined as the MACD’s bearish signal strengthened. However, money flow tilted upward, indicating increased liquidity. This performance shows sustained investors’ hope in the sector.
FAQs
How did the NGXASI perform?
The NGXASI shed 1.27%, signaling continuous bearish momentum as selective sector investment prevails
How did the NGX banking sector index perform?
The NGXBNK sustained its bearish sentiment and broke through its support level to close within 0.682 of the Fibonacci sequence
How did the NGX consumer goods index perform?
The NGXCSMG maintained its bearish bias, breaking its current support level
How did the NGX industrial sector index perform?
The NGXIND experienced a massive loss of 3.42% due to profit-taking in Dangote Cement
How did the NGX oil and gas sector index perform?
The NGXOGSE commences its distribution phase within 0.382 of the Fibonacci sequence.
How did the NGX insurance sector index perform?
The NGXINS experienced a strong bearish sentiment, breaking its support zone.
