Week Ending: 28 August 2026

Norway NO Sector

Industrials

For the week ending 28 August 2026, Industrials advanced 0.45% with 30 advancing, 32 declining, and 3 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

66 technical evidence
Index1828.27 1 week0.45% Breadth46% Members66
Country 🇳🇴 Norway · NO
Universe country-listed
Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture
Current architecture Upward Expansion 1 completed week in this state
Trend acceptance 2.9% Index versus Trend Line
Persistence 75% Positive regime, shorter trend weakening
Participation 46% 30 advancing, 32 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Build exposure selectively

The evidence is constructive, but security selection and entry discipline still matter.

66 technical evidence
out of 100
Evidence balance

Five-pillar map

Selective
Trend
74
Breadth
50
Persistence
68
Relative
54
Risk quality
95
What supports the view
  • The index remains above a constructive Trend gate.
  • Constituent trends show positive multi-horizon persistence.
What restrains conviction
  • Breadth remains too narrow or inconsistent for a high-conviction position.
  • The group is not yet delivering dependable relative outperformance.
Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view
  1. A completed weekly close below the Trend Line at 1,775.96 would weaken the constructive case.
  2. Breadth falling below 45% while the index holds up would signal narrowing leadership.
  3. A turn to negative 13 and 26-week parent-relative performance would remove the rotation edge.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

State age1 weeks
Trend gateUp
Fan width1.60%
Fast versus slow change2.07 pts
Above 67% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Positive regime, shorter trend weakening

75% agreement

The long trend remains positive, but the 13-week horizon has turned against it.

13-week
-0.8%
26-week
3.0%
39-week
13.6%
52-week
9.0%
Regime age44 weeks 52-week flips3 52-week boundary1677.06
Constituent trend persistence

Is the index move broadly durable?

97% coverage
Coherent positive44%
Coherent negative16%
Average horizon agreement87%
Positive horizon share64%
Weakening positives8
Repairing negatives7

63 constituents measured as of 28 Aug 2026. Median trend age is 34 weeks.

Custom stage map

Where constituents sit in the cycle

94% coverage
Stage 1 · Basing12%7 securities
Stage 2 · Advancing44%27 securities
Stage 3 · Distribution12%7 securities
Stage 4 · Declining33%20 securities
Re-acceleration watch2 Transition watch5 Relative strength leaders28% Fair Value repairs7

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

74/100 mean confidence
Upward expansion
43% 26
Rotation up
8% 5
Deceleration
7% 4
Balance
15% 9
Rotation down
3% 2
Downward expansion
25% 15
Unresolved
0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to NO Market Structure

Improving
Relative index 13-week relative trend Starting level
Rotation dashboard Improving

A rising relative line means this group is compounding faster than NO Market Structure. A falling line means capital has done better in the parent benchmark.

Relative index111.6
13-week trend110.7
4-week trend change0.14%
Weekly peer rank6 of 11
1 week
0.1 pts relative
4 weeks
1.9 pts relative
13 weeks
0.1 pts relative
26 weeks
1.1 pts relative
52 weeks
4.0 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Balanced
Advancing
30
Declining
32
Unchanged
3
4-week average 53%
13-week average 47%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility10.4%
Drawdown from 52-week high-1.5%
Positive weeks, last 1346%
Current directional run1 week
Turnover versus 13-week norm228%
Breadth impulse-1.4 pts
Cross-section

Return distribution

65 measured
Q1 -2.6% Median 0.0% Q3 3.0%
Average winner4.3%
Average loser-3.4%
Dispersion5.8 pts
Top-five upside share42%
Top-five capital share53%
Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

Industry map

Where sector leadership is forming

Performance, breadth and trend acceptance across every qualified industry.

5/7 positive
Above Trend Line5/771% of industries
Constructive breadth4/7At least half advancing
Median industry1.45%1.61 pts dispersion
#1 Narrowing

Aerospace & Defense

3.28%
Participation33% vs Trend6.3% vs Fair Value26.5% Members3
#2 Transition

Pollution & Treatment Controls

2.21%
Participation75% vs Trend0.5% vs Fair Value-25.5% Members8
#3 Advancing

Engineering & Construction

1.81%
Participation67% vs Trend6.7% vs Fair Value38.6% Members9
#4 Advancing

Conglomerates

1.45%
Participation67% vs Trend15.1% vs Fair Value50.6% Members3
#5 Transition

Specialty Industrial Machinery

1.17%
Participation33% vs Trend-6.7% vs Fair Value-19.6% Members6
#6 Weakening

Waste Management

-0.81%
Participation50% vs Trend-16.7% vs Fair Value-47.4% Members4
#7 Narrowing

Marine Shipping

-1.70%
Participation30% vs Trend9.2% vs Fair Value35.9% Members23

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence
Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

0 qualified records across 65 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 NTINorsk Titanium AS
15.82% 2 SNTIASENTIA ASA
11.01% 3 NRCNRC Group ASA
10.36% 4 NORSENorse Atlantic ASA
8.83% 5 VOWVow ASA
8.25%

Weakest edge

65 BRUTBruton Limited
-31.56% 64 DFENSFjord Defence Group ASA
-5.64% 63 OCEANOcean GeoLoop AS
-4.44% 62 PRYMEPryme N.V.
-3.85% 61 WAWIWallenius Wilhelmsen ASA
-3.76%

Constituent ledger

Sector constituents

All 65 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 NTI Norsk Titanium AS OSL 1.60B 1.27 0.24 pts
15.82%
2 SNTIA SENTIA ASA OSL 8.59B 86.70 0.17 pts
11.01%
3 NRC NRC Group ASA OSL 1.60B 9.27 0.16 pts
10.36%
4 NORSE Norse Atlantic ASA OSL 948.09M 0.3205 0.14 pts
8.83%
5 VOW Vow ASA OSL 752.17M 2.56 0.13 pts
8.25%
6 IWS Integrated Wind Solutions ASA OSL 2.33B 58.40 0.12 pts
7.75%
7 NOSN NOS Nova AS OSL 47.01M 1.15 0.11 pts
6.98%
8 CADLR Cadeler A/S OSL 23.04B 59.30 0.08 pts
5.33%
9 NAS Norwegian Air Shuttle ASA OSL 13.89B 13.16 0.08 pts
4.94%
10 ADS ADS Maritime Holding Plc OSL 184.62M 2.62 0.07 pts
4.80%
11 AFG AF Gruppen ASA OSL 22.18B 199.20 0.07 pts
4.40%
12 BONHR Bonheur ASA OSL 10.76B 254.50 0.07 pts
4.30%
13 CAMBI Cambi ASA OSL 3.60B 22.50 0.06 pts
4.17%
14 AUTO AutoStore Holdings Ltd. OSL 54.93B 16.32 0.06 pts
3.68%
15 AKER Aker ASA OSL 115.45B 1,536.00 0.05 pts
3.23%
16 KCC Klaveness Combination Carriers ASA OSL 6.37B 107.20 0.05 pts
3.08%
17 OET Okeanis Eco Tankers Corp. OSL 24.25B 623.00 0.05 pts
2.98%
18 VEI Veidekke ASA OSL 27.87B 208.50 0.04 pts
2.71%
19 PYRUM Pyrum Innovations AG OSL 1.32B 308.00 0.04 pts
2.67%
20 ENVIP Envipco Holding N.V. OSL 2.91B 42.65 0.03 pts
2.16%
21 HAFNI Hafnia Limited OSL 38.88B 78.10 0.03 pts
2.09%
22 ZAL Zalaris ASA OSL 2.19B 102.00 0.03 pts
2.00%
23 AGLX Agilyx ASA OSL 2.30B 18.00 0.03 pts
1.98%
24 WWIB Wilh. Wilhelmsen Holding ASA OSL 31.47B 756.00 0.02 pts
1.48%
25 WWI Wilh. Wilhelmsen Holding ASA OSL 34.07B 814.00 0.02 pts
1.37%
26 TOM Tomra Systems ASA OSL 32.59B 109.70 0.02 pts
1.29%
27 SNI Stolt-Nielsen Limited OSL 21.68B 327.00 0.02 pts
1.08%
28 CAPSL Capsol Technologies ASA OSL 375.24M 5.00 0.02 pts
1.01%
29 NORCO NORCONSULT ASA OSL 12.16B 39.25 0.01 pts
0.64%
30 DOFG DOF Group ASA OSL 31.97B 129.50 0.00 pts
0.03%
31 JIN Jinhui Shipping and Transportation Limited OSL 718.22M 6.60 0.00 pts
0.00%
32 NEL Nel ASA OSL 3.93B 2.12 0.00 pts
0.00%
33 SCANA Scana ASA OSL 681.28M 1.46 0.00 pts
0.00%
34 MPCC MPC Container Ships ASA OSL 13.10B 26.73 0.00 pts
-0.15%
35 HPUR Hexagon Purus ASA OSL 372.78M 8.50 0.00 pts
-0.23%
36 KOG Kongsberg Gruppen ASA OSL 275.67B 313.80 -0.01 pts
-0.35%
37 NKR Nekkar ASA OSL 1.51B 14.65 -0.01 pts
-0.68%
38 BMA Byggma ASA OSL 1.61B 22.80 -0.01 pts
-0.87%
39 MULTI Multiconsult ASA OSL 4.00B 145.20 -0.01 pts
-0.95%
40 SOMA Solstad Maritime ASA OSL 13.29B 28.50 -0.02 pts
-1.04%
41 HSHP Himalaya Shipping Ltd. OSL 7.38B 155.20 -0.02 pts
-1.15%
42 CAPT Capital Tankers Corp. OSL 20.10B 154.00 -0.03 pts
-1.91%
43 STST Stainless Tankers ASA OSL 541.35M 40.20 -0.03 pts
-1.95%
44 HAUTO Höegh Autoliners ASA OSL 33.80B 169.10 -0.03 pts
-2.15%
45 WEST Western Bulk Chartering AS OSL 729.55M 21.20 -0.04 pts
-2.30%
46 ODF Odfjell SE OSL 8.82B 111.00 -0.04 pts
-2.46%
47 AKVA AKVA group ASA OSL 4.98B 134.50 -0.04 pts
-2.54%
48 HAV HAV Group ASA OSL 488.25M 13.45 -0.04 pts
-2.54%
49 STRO StrongPoint ASA OSL 443.83M 9.62 -0.04 pts
-2.63%
50 HAVI Havila Shipping ASA OSL 301.31M 1.10 -0.04 pts
-2.64%
51 STECH Soiltech ASA OSL 782.15M 87.60 -0.04 pts
-2.67%
52 SOFF Solstad Offshore ASA OSL 7.35B 67.40 -0.04 pts
-2.74%
53 GEOS Golden Energy Offshore Services ASA OSL 490.58M 6.55 -0.05 pts
-2.96%
54 MVW M Vest Water AS OSL 285.89M 7.85 -0.05 pts
-3.09%
55 AFK Arendals Fossekompani ASA OSL 10.25B 183.00 -0.05 pts
-3.17%
56 ODFB Odfjell SE OSL 8.57B 108.80 -0.05 pts
-3.20%
57 ENDUR Endúr ASA OSL 5.64B 108.20 -0.05 pts
-3.22%
58 ZAP Zaptec ASA OSL 4.38B 50.10 -0.05 pts
-3.28%
59 GOD Goodtech ASA OSL 386.41M 13.30 -0.06 pts
-3.62%
60 HYPRO HydrogenPro ASA OSL 70.93M 0.512 -0.06 pts
-3.76%
61 WAWI Wallenius Wilhelmsen ASA OSL 66.77B 158.70 -0.06 pts
-3.76%
62 PRYME Pryme N.V. OSL 38.98M 1.25 -0.06 pts
-3.85%
63 OCEAN Ocean GeoLoop AS OSL 68.37M 0.43 -0.07 pts
-4.44%
64 DFENS Fjord Defence Group ASA OSL 1.82B 15.05 -0.09 pts
-5.64%
65 BRUT Bruton Limited OSL 2.72B 46.40 -0.38 pts
-31.56%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.

Evidence context