NGX ASI: Nigeria’s All-Share Index
The NGX ASI gained 0.23% and closed at 251,191.02 basis points. During intraday trading, the index sustained strong bullish momentum. This performance sustained its recovery strength. In line with this performance, the index’s overall momentum, volume, and liquidity improved, attracting investment opportunities.
NGXBNK: Banking Sector Index
The banking sector index gained 0.85% and closed at 2,748.63 bps. During intraday trading, the index sustained its bullish momentum above its moving average. This performance strengthened the index markup phase. In line with this performance, the index’s volume, liquidity, and overall momentum improved exponentially.
Top gainers: ZENITH (+2.27%), FIRSTHOLD (+1.35%), ACCESSCORP (+1.16%), GTCO (+0.15%), IBTC (+0.09%)
Top loser: WEMABANK (-0.63%)
NGXCSMG: Consumer Goods Sector Index
The consumer goods index gained 0.64% and closed at 7,656.32 bps. During intraday trading, the index sustained its bullish momentum and closed above its moving average. This performance created a new 52-week high and strengthened the index’s markup phase. In line with this performance, the NGXCSMG’s overall momentum, volume, and liquidity improved.
Top gainers: NAHCO (+7.69%), HONEYFLOUR (+7.67%), NEIMETH (+4.40%), ROYALEX (+3.13%)
Top losers: UCAP (-5.00%), AFRIPRUD (-3.35%), NPFMCRF (-2.41%), PZ (-0.94%)
NGXIND: Industrial Sector Index
The industrial sector lost 0.15% and closed at 10,463.54 bps. During intraday trading, the index pulled back, leading to strong bearish volume. However, the index sustained its strong bullish momentum. Also, liquidity improved gradually despite the bearish sentiment.
Top gainer: CUTIX (+4.37%)
Top losers: HBMNG (-0.53%), DANGCEM (-0.12%)
NGXOGSE: Oil and Gas Sector Index
The oil and gas index fractionally gained 0.06% and closed at 6,014.43 bps. During intraday trading, the index consolidated and closed above its moving average. This performance suggests that the index should continue its bullish momentum. However, MACD sustained its bullish divergence signal. Thus, investors should watch for potential bearishness.
NGXINS: Insurance Sector Index
The insurance sector index gained 1.08% and closed at 1,093.23 bps. During intraday trading, the index pulled back and regained its bullish momentum with 100% buy sentiment. This performance strengthened the sector’s recovery. In line with this performance, the indicators on the daily chart gradually improved, aligning with the index’s sentiment.
Top gainers: SOVRENI (+8.60%), AIICO (+5.07%), CORNERS (+5.05%), INTENEG (+2.68%), MANSARD (+2.68%)
Top losers: WAPIC (-6.30%), VERITASKAP (-5.45%), MBENEFIT (-1.71%), LINKASS (-1.21%)
Market Analyst Insight
The NGX remained strongly bullish, sustaining its All-Share index’s recovery. The attractive sectors for investment include banking, consumer goods, and industrial. Also, the feasible sector for long-term trading is the insurance sector due to its liquidity and volume performance
