Nigeria’s All-Share Daily Performance for 9th June, 2026
The Nigerian Exchange’s composite All-Share Index (NGXASI) gained 0.49% on Tuesday, closing at 244,697.62 basis points. In the intraday market, the index experienced a brief pullback due to its resistance level at 244,289.06bps, after which the bulls dominated activities, breaking the index’s resistance level in the process.
This report seeks to explore how the key sectoral indices influenced this performance.
Indicator readings for NGXASI on the daily chart
The indicators on the daily are rapidly recovering following the strong decline in volume, liquidity, and momentum. The bullish volume closed strongly above its moving average, indicating a strong recovery phase. In line with this performance, MACD sustained its divergence signal as momentum and liquidity renewed their strength.
Key Sectoral Index Performance
NGXBNK: Banking Sector Index
The banking sector gained 1.33%, closing at 2,321.51 bps. This bullish performance confirms a strong recovery phase as investors buy into value. While the banking index recovers, it’s expected to meet resistance at 0.5 of the Fibonacci retracement sequence to determine the strength of its recovery stage. Notable contributors included FIRSTHOLD (+8.49%), ACCESSCORP (+2.04%), WEMABANK (+1.31%), GTCO (+0.74%), and ZENITH (+0.39%).
Indicator readings for NGXBNK on the daily chart
Despite the strong bullish sentiment, its volume closed fairly strong. However, market liquidity and momentum regained their strength, closing above their thresholds. In line with this performance, MACD signaled a possible trend reversal.
NGXCSMG: Consumer Goods Sector Index
The consumer goods index closed positively, gaining 0.54%. During the intraday market, the index experienced a brief bearish sentiment before the bulls dominated the market. This performance indicates a continuous recovery phase as the index approaches its resistance level. Notable contributors included blue-chip banks, NPFMCRF (+7.84%), NEM (6.86%), and ROYALEX (1.97%)
Indicator readings for NGXCSMG on the daily chart
The indicators signalled a continuous recovery phase, although the index liquidity and momentum remained weak. Also, MACD’s bearish momentum sustained its divergence signal, aligning with the bullish sentiment in the market.
NGXIND: Industrial Sector Index
The bearish sentiment on the NGXIND’s daily chart remained strong. The index lost 0.99%, closing at 11,590.87 bps. This performance is due to continuous portfolio rebalancing in the market. In line with this sentiment, DANGCEM (-2.12%) was a notable contributor.
Indicator readings for NGXIND on the daily chart
The bearish volume closed low as market liquidity remained flat. However, MACD sustained its divergence signal while RSI’s momentum remained solid. This performance tells investors that a bullish run is on the horizon as the index closed within the 0.382 zone of the Fibonacci sequence.
NGXOGSE: Oil and Gas Sector Index
The oil index lost 0.61%, closing below 5,684.25 bps. During the intraday market, the index experienced a strong bearish sentiment. This pullback opened below the close of the previous candle, hence increasing the percentage loss. This performance signals the strong bearish sentiment for companies in this sector.
Indicator readings for NGXOGSE on the daily chart
The bearish volume closed moderately strong while the market momentum and liquidity remained weak. Also, MACD’s bearish momentum strengthened, indicating a continuous bearish market.
NGXINS: Insurance Sector Index
The insurance sector gained 0.24%, closing at 1,249.88 bps. Given this performance, the index closed above its moving average, renewing its strength and breaking its resistance level (1,249.52 bps). Notable contributors included INTENEG (+9.90%), NEM (+6.86%), CONHALLPLC (+2.34%), MBENEFIT (+1.94%), and LASACO (+1.49%)
Indicator readings for NGXINS on the daily chart
The bullish volume closed moderately strong as the RSI’s momentum strengthened. Also, MACD sustained its divergence signal, indicating a potential bullish run. However, money flow declined dramatically. This is due to the strong bearish sentiment in the intraday market. Thus, the index liquidity is expected to recover given the strong bullish sentiment for the sector.
Final Thought
The Nigerian bourse sustained its bullish sentiment following portfolio rebalancing and defensive stock investment. Since the indices are within their distribution phase, investors should expect another pullback.
