NGX ASI: Nigeria’s All-Share Index
The NGX ASI lost 1.98% to close at 249,710.60 basis points, after the benchmark All-Share Index expectedly index pulled back sharply after breaking below its resistance level at 254,295 basis points. Despite this bearish performance, the index’s liquidity and momentum remained solid. However, investors should expect continued bearish performance and discount investing.
NGXBNK: Banking Sector Index
The banking sector lost 0.66% to close at 2,388.23 bps. During intraday trading, the index met strong resistance at 2,413.91 bps after forming the evening star candlestick pattern. This performance suggests continuous bearish momentum as the index’s liquidity and relative strength declined.
Top gainers: FIDELITY (+0.83%), WEMABANK (+0.62%)
Top losers: FIRSTHOLD (-2.40%), IBTC (-0.85%), GTCO (-0.81%), UBA (-0.24%)
NGXCSMG: Consumer Goods Sector Index
The consumer goods index lost 1.12% to close at 6,996.71 bps. This performance strengthened the index’s markdown phase as it approaches its support level at 6,861.60 bps. In line with this performance, the index’s liquidity and relative strength declined.
Top gainers: HONYFLOUR (+9.82%), ETRANZA (+9.71%), AFRIPRUD (+7.00%), NPFMCRF (+2.38%), REDSTAR (+2.24%)
Top losers: DANGCEMENT (-10%), UCAP (-3.30)
NGXIND: Industrial Sector Index
The industrial index lost 7.41% and closed at 11,707.38 basis points. After a strong recovery, the index pulled back, offering investors an opportunity to buy value. The index closed near its strong support at 11,692 bps. At this level, market players should watch for a potential trend reversal.
Top losers: DANGCEMENT (-10%), HBMNG (-7.71%), CUTIX (-3.96%)
NGXOGSE: Oil and Gas Sector Index
The oil and gas index shed 0.04%, closing at 5,852.29 bps. This performance sustained the index’s markdown phase above its support level. The oil and gas index awaits a trigger amid an uncertain global crisis. In line with this performance, the index’s liquidity and relative strength declined.
NGXINS: Insurance Sector Index
The insurance sector lost 2.51% and closed at 993.55 basis points. This performance created a new 52-week low for the index, strengthening its markdown phase. In line with this performance, the index’s liquidity and relative strength declined drastically.
Top gainers: MBENEFIT (+8.09%), CORNERS (+1.28%)
Top losers: WAPIC (-9.91%), LASACO (-8.57%), MANSARD (-8.09%), SOVRENI (-6.81%), INTENEG (-3.95%)
