Most World Bourses plummeted this period principally because of Inflation concerns and Energy Concerns.
USD is dropping as rising Energy Prices dent rates cut outlook and equally Naira traded at NFEM rate of N1,366.23/$ as Middle East Conflict sparks global volatility.
Based on the recent monetary policy developments, the Central Bank of Nigeria (CBN) already cut its key interest rate (MPR) by 50 basis points to 26.5% during the meeting held on Feb 23-24 .
Certainly, there is a lot of uncertainty looming over the world economies at this point in time.
GENERAL DISCLOSURES.
The NGX All -Share Index and Market Capitalization appreciated by 0.73% to close the week at 198,407.30 and N127.361 trillion respectively.
The banking and the insurance sectors finished lower, while other indices appreciated in the period under consideration.
We need to state that investing in the markets entails the risk of market volatility.
The value of all types of investments, bonds, stocks, ETF’s etc may increase or decrease over varying time periods.
Accordingly, trading activities in the banking sector in the week ended 13th March, 2026 on a bearish note as the sector depreciated in market value by 1.04%.
Wema bank opened the week at N27.00 but closed at N26.00 shedding 4.41% bringing the year to date price appreciation to 27.45 %.
The volume traded increased by 238.12% from 40,907,799 units in the previous week to 138,316,201 in the week under consideration.
Major trades of about 100million units were closed at a price of N26.00 during the week , given the nod to the closing price.
Following this high – volume session, the stock entered a stabilization phase as the mean price edged slightly to about N25.9 on 12th March and N26.0 by 13th March.
Overall, the observed price-volume dynamics point to a corrective movement driven by profit-taking rather than a structural breakdown in trend.
The heavy week mid week volume appears to have facilitated price discovery and absorption of supply while the subsequent stabilization suggests the emergence of near – term support around N25.8-N26.0 range.
It is envisaged that the heavy volume transactions may likely continue from now until the financial results are made public.
From the key technical levels
The major resistance level is N28.00
Intermediate Support at N16.70 and Major Support level at N5.80
OUTLOOK.
The broader market appears to be transitioning into a more selective and rotational phase , where gains are increasingly driven by sector – specific catalysts rather than broad -based momentum.
The banking sector,having led the rally in prior weeks, may continue to experience intermittent consolidation as investors rebalance positions.
CONCLUSION.
For Wema Bank , the near – term outlook points to continued consolidation within the N25.50-N26.50 range, as the market digests the recent high -volume sell-off.
The emergency of support around this brand is encouraging and suggests that the correction has not undermined the underlying trend.
Accordingly, Wema Bank is recommended to be bought now.
Tunde Sobamowo
FINANCIAL ADVISOR
DISCLAIMER.
This material, or any portion thereof, may not be reproduced, sold or distributed without the written consent of Global Asset Management Nig PLC.
Kindly contact your financial adviser or accountant before investing in general.
Wema-Bank-Share-Price-Weekly-Research-Report-13th-March-2026
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