Naija Lo Wa

Courtesy of FSDH, Afrinvest, and Lead Capital, here are the NSE reports and stats for the week ended July 15th 2011:

1. The market moved southwards this week, with a cumulative loss of 197 bps.
2. Incessant selling at the bourse continued with no respite throughout the week, leading to losses across board.
3. The likes of Stanbic IBTC, Intercontinental Bank and Wema Bank however recorded varied gains in the banking sector this week, as the top-tier banks shed varied points. This trend may reverse in the coming week as buyers are likely to key in at the current low prices.
4. In the breweries sector, a last day price appreciation in NB led to a 4.6% gain, while Guinness succumbed to bearish pressure, shedding marginal points.
5. Companies in the food and beverages were not spared from the bearish trend prevalent in the market, as the sector failed to record any gain this week. Thus, Flour Mills, NNFM, Dangote Sugar, Nascon and Cadbury all shed points in excess of 3.0% apiece, while other stocks in the sector remained unchanged.