Despite the sprawling increase in the price of crude oil as a result of raging wars between USA and Iran, which led to the closure of Strait of Hormuz by Iran ,the effect has brought a lot of economic hardships to virtually every segment of the economy of the world.
Oil prices have been on a roller coaster the past weeks.
US WTI crude oil prices settle at $94.53per barrel
Brent Crude at around $99.89Per barrel
Nigeria crude oil (bonny light) $96.33 per barrel
It is envisaged that the oil prices may inch up to say around $150 per barrel.
There is energy crisis in the world.
Most stocks indexes are closing lower
The immediate effects will be on the supply chain disruptions.
Inflation and economic instability
Higher Energy Costs would impact industries, transportation and households worldwide.
Nonetheless, The NGX ALL Share Index and Market Capitalization appreciated by 2.15% and @.16% to close the week at 196,968.15 and N126,437 trillion respectively.
A total turnover of 3,695 billion shares worth N177,687 billion in 370,980 deals was traded this week as against 5,494 billion shares valued at N196,709 billion in 370,233 deals the previous week.
I dare say is a direct consequence of the effect of the world energy crisis, as investors tend to rejig their portfolios to hedge against diminution in value as a result of the current situation in the world.
Consequently, trading activities in the banking sector in the week ended 6th March ,2026 on a marginal note as it gained 0.24%.
Wema Bank shares slumped in Volume from 92,212,360 units in the previous week to 40,907,799 units in the week under consideration by appreciating by 0.74% to close the week at N27.20
Even though, the major resistance level shot up to N28.00 from our projection of N25.00 which was prevalent for a long time, market dynamics have indicated that the price of Wema will be in the region of N25.00 – N28.00, until the 2025 financial results are announced.
In conclusion, we recommend a HOLD and BUY option for Wema.
Regards.
Tunde Sobamowo.
FINANCIAL ADVISOR
Wema-Bank-Share-Price-Weekly-Research-Report-6th-March-2026
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