The NGX All -Share Index and Market Capitalization depreciated by 0.12% to close the week at 200,913.06 and N128,969 trillion respectively.
The week ended with a mixed bag of results as some indices closed lower while some others appreciated slightly.
NGX Banking closed -2.47% lower, even though The Financial Services industry ( measured by Volume)led the activity chart as usual.
Notably, Trading in top three equities, namely Wema Bank Plc , Access Holdings Plc and United Bank for Africa Plc ( measured by Volume) accounted for 1,448 billion shares worth N43.191 billion in 28,436 deals, thereby contributing 36.65% and 21.45%
to the total equity volume and value respectively.
Trading in the banking sector in the week ended 27th March, 2026 ended on a bearish note as the sector depreciated in market value by 2.47%
Wema’s performance to date
YEAR TO DATE 29.90%
QTR TO DATE. 29.90%
MONTH & Week
TO DATE. -1.85 %
The performance of Wema exceeds All Share Index ( ASI) with a YTD increase of 29.11 % by just 2.7%
The trading activities in Wema Bank Shares saw 523,818,282 units of shares exchanged hands as against 335,150,409 units in the previous week with a volume change of 56.29%.
The median trades were executed between N26.15- N26.50, which is very reflective of the closing price at N26.50 for the week.
As reported previously ,there is this tendency to do negotiated deals in Wema in anticipation of good dividends and further price appreciation.
Accordingly,volume of shares exchanged in March on a weekly basis is detailed below to reflect the market sentiment towards Wema Shares.
Weekly rate – Volume
6th March – 92,212,360
13th March – 40,907,799
20th March – 335,150,409
27th March – 523,818,282
Trading volumes during the period remained relatively elevated but showed no clear confirmation of bullish conviction with activity moderating after the initial session and falling to support the early price advance.
Notably , the persistence of declining prices despite stable- to – recovering volumes towards the end of the period indicates underlying distribution, as supply appears to outweigh demand at prevailing price levels.
Major resistance price remains N28.0k.
It is envisaged that if the supply momentum continues especially if it involves large parcels, there is tendency for the price to pull back to N25.00 – N25.50, but from a structural standpoint, it only means that investors are still very much interested in the bank’s stock and our research suggests a float of over 7 billion units is available for trading, even though ,the supply may be interrupted by sharp volatility or heavy distribution witnessed in the last 3 weeks of trading large volumes.
CONCLUSION
The broader market appears to be transitioning into a consolidation phase characterized by selective sector rotation and intermittent profit – taking.
Wema Bank’s price action reflects resilience amid sector – wide profit – taking, with consolidation occurring above key support levels.
The N26.00 – N26.30 zone now serves as a critical accumulation band and gradually positioning within this range may offer attractive risk -adjusted entry opportunities for medium- term investors.
We recommend a buy and hold option for Wema Bank’s Shares.
Tunde Sobamowo
Financial Advisor & Authorized Dealer of NGX
DISCLAIMER: kindly consult your lawyer or accountant before taking any investment decisions.
The write up is for research purposes only and reflects the sentiments of the author only.
Wema-Bank-Share-Price-Weekly-Research-Report-27th-March-2026
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