Analysts at CardinalStone anticipate that the bearish sentiment that surfaced within the remaining week of February 2025 might lengthen into March if the market continues to seem overbought.
This perception was shared of their financial replace titled “Blended Sentiments Throughout International Equities; Bullish Momentum Prevails on the Native Change,” revealed on March 3, 2025.
They famous that panic promoting in March might possible drag the weighted All-Share index down: “In March, the bearish sentiments that emerged in the direction of the top of February are more likely to spill over into the month, as profit-taking appears to be triggering panic promoting.”
Regardless of this, they imagine that such sell-offs may current shopping for alternatives for buyers seeking to buy essentially sound shares at decrease costs.
Moreover, they emphasised that the upcoming launch of FY’24 earnings and dividend bulletins from each banking and non-banking entities is predicted to considerably affect market circumstances.
All Share in February
The All-Share index began February on a excessive notice, gaining 1,436.91 factors within the first week to shut at 105,933.03.
- This surge was pushed by heavyweight shares like FBNH, ACCESSCORP, and WAPCO.
Within the second week, the index continued its upward trajectory, advancing by 2,120.92 factors to complete at 108,053.95, fueled by sturdy performances within the industrial items sector, notably from DANGOTE CEMENT and BETAGLASS.
- Nonetheless, momentum started to wane within the third week, with the All-Share rising solely 443.45 factors, supported primarily by client items shares comparable to Dangote Sugar and BUA Meals.
By the fourth week, a bearish development emerged, resulting in a definitive 0.62% decline, with the All-Share Index closing the week firmly within the purple.
Up to now, this detrimental sentiment has carried into the primary week of March 2025, with the index already down by 0.97% week-to-date as of the pre-market opening on March 7, 2025.
Weighted industrial items sector
In February, the commercial items sector emerged because the best-performing sub-index, hovering by 10.78% to complete the month firmly within the inexperienced.
- This spectacular development was largely pushed by heavyweight DANGOTE CEMENT, which skilled a exceptional month-on-month enhance of 21.83%.
Analysts famous, “The surge adopted Aliko Dangote’s announcement of a $400 million funding in a second manufacturing line on the Mugher cement plant in Ethiopia. This strategic enlargement is predicted to double the plant’s annual output to five million tonnes inside a projected timeline of 30 months.”
From a technical perspective, the commercial items index is at present driving a robust long-term purchase development within the Nigerian inventory market.
- A pullback that started in February 2024 noticed the index tumble from a January excessive of 5,637 to three,267 in January 2025, making a shopping for alternative.
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