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Below is the summary of the NSE for the week of July 8th.
- The NSE All-Share Index cumulatively shed 157bps at the end of this week.
- Bearish sentiments continued to dominate proceedings on the bourse this week despite the marginal appreciation recorded towards the end of the week. Some stocks in the banking sector however recorded marginal gains, with the likes of Stanbic IBTC, Diamond Bank, FinBank and Unity Bank bagging varied points. On the other hand, Wema Bank, Union Bank and Afribank shed points in excess of 11.0% apiece. The sector is likely to trade around this level in coming sessions; there is however a possibility that activities from new entrants could reverse this trend.
- In the food and beverages sector, NBC and Cadbury recorded marginal gains this week. On the flip side, NNFM, Honeywell Flour, Nascon, Dangote Flour and Flour Mills went southwards, shedding points between 1.3% and 11.5%. Other stocks in the sector traded sideways. A dearth of new and positive information may lead to a continuation of the trend witnessed in the sector last week in the near term.
- Japaul Oil was divergent to the market trend this week, with a 3.8% gain.
And here are the reports from FSDH, Afrinvest, and Lead Capital for the weeks ending July 1st and 8th:
July 8th:Afrinvest Weekly Update 8th July 2011 (289)
July 1st:NSE Weekly Report - Lead Capital - July 1st 2011 (297)
And courtesy of FSDH Securities, here are the stats for the last week:
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