The Nigerian Exchange Group (NGXGROUPThe Nigerian Exchange Group (NGXGROUP) is the company that owns and operates the Nigerian Exchange (NGX), where other companies’ stocks are traded.
Because of this role, NGXGROUP’s performance is partly linked to the overall health of the Nigerian stock market.
When trading activity is high, more companies list their shares, and investor confidence is strong, NGXGROUP often benefits — so its stock price tends to rise when the broader market is doing well.
However, NGXGROUP is not just another listed company; it operates as a business that earns revenue from transaction fees, data services, and market operations. This means its stock may not always move exactly in line with the general market. At times, internal company decisions, management performance, or regulatory issues can cause its price to move differently from other Nigerian stocks.
Overall, NGXGROUP’s share price shows a positive but not perfect correlation with the rest of the market. It tends to move in the same direction as the Nigerian Exchange Index but with less intensity — meaning it rises and falls with the market but not as sharply. Historical data shows it has even outperformed the market in certain periods, suggesting both market-driven and company-specific factors influence its performance.
TECHNICAL VIEW:
This asset retraced to FIB 61.8%, which is a critical level.
If all things are equal, the push-up that has started should continue from here.
MY buy: N60
TP: N80
trade with care
