One pager summary.
The market opened for four trading days this week as the Federal government declared Friday 1st May 2026 as a Public holiday to commemorate Workers’ Day Celebration.
NGX All -Share Index appreciated by 7.33% to close the week at 242,277.81
Meanwhile the MTD% was 20.36%, which is impressive ,while YTD% was 55.69%
Bringing it nearer home to the NGX Banking Index , the MTD % was 22.61%, with a 50.5 % YTD, but with a loss of -5.52% WtD.
WEMA BANK SHARE PRICE CHANGES.
YTD. 67.16%
QTD. 31.15%
MTD. 31.15 %
WTD. 9.12%.
Fortuitously , Wema led the banking sector with an increase of 9.12%, despite the fact that the sector ended on a bearish note, due to investors apathy to the results of UBA, FBNH, ACCESS, FCMB, FIDELITY, etc. for non declaration of dividends as well as making huge provisions for impairment to their exposure in the oil and gas sectors.
The trading activities in Wema saw 238,883,968 units of shares exchanging hands between buyers and sellers as against previous week’s of 86,379,376, a whooping 176.55% week on week volume change.
NOTABLY TECHNICAL PRICE ACTION
The highest average trade price was around N36.00 on April 30 The lowest average trade price was around N31.25 on April 27
Invariably, it is safe to assume that all things being equal, we should be looking at a
MAJOR RESISTANCE LEVEL AT N36.00
INTERMEDIATE SUPPORT. N28.00, while
Major Support level stands at N25.00.
Despite the above encouraging statistics, the market has in built corrective mechanisms to moderate the market, which is universal, but nonetheless, Wema bank at N27.00 -N30.00 is a steal, in view of the impressive financial performance in 2025.
CONCLUSION: BUY AND HOLD.
Tunde Sobamowo
Financial Advisor & Stockbroker
DISCLAIMER; The above report is for restricted use and should not be circulated without the consent of the writer. Kindly seek the advice of your lawyer or accountant, in case you intend to invest in Wema or any other quoted stock.
Wema-Bank-Share-Price-Weekly-Research-Report-30th-April-2026
Discover more from Global Asset Management (Nig.) Limited
Subscribe to get the latest posts sent to your email.