NGX in the first half of the year and the month June had witnessed a mix volatility and mixed economic outlook in the face of continued rise in inflation, MPR, insecurity, election uncertainties and post-election litigation here and there that had dominated headline news for weeks and months, thereby driving investors and traders’ sentiments up and down. However, the successful handover of government to the new administration, which the inaugural speech of President Bola Tinubu came with some policy statements or information that triggered optimism in the market, as the ongoing reforms in the economy and financial sector had supported positive sentiment and market rally. Despite, the profit taking and cautious trading due to risks around the market at this level.
At the current level of the market, with improved daily average traded volume in the midst of inflows into the market to reflect the gradual return of foreign portfolio investors and changing trading environment that called for new approach and strategies to stay ahead of the market by effectively looking at the policy direction of the government to identify the sectors and industries that are net beneficiary, because any where in the world today, fiscal and monetary policies influence companies performance and financials. Just as technicals help market players to know when to buy or sell looking at price action, volume, support, resistance, chart setup and others. Below are indexes and price actions to watch in the new week

NGXASI Weekly Chart (Opening Chart)

NGX BANKING

NGX INSURANCE

NGX CONSUMER GOODS

NGX INDUSTRIAL GOODS

NGX OIL/GAS

NGX 30

CHAMS

CONOIL

MRS OIL

TOTAL

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