Coming into 2013 the Oil and Gas sector was down about 17%. At the end of 2013 they were up about 107%. The Industrial sector which included Dangote Cement was up about 77%. Between Nestlé and Dangote Cement the market gained at least 10%.
And like we mentioned in the blog the market gained over 30% between Jan and June 2013 indicating the remaining part of the year accounted for about 10%. Why is this important? It is because this year those naive ones on the sidelines will now think it’s time to buy and that all is well. All is well though but be fearful when others are greedy.
Read the Thisday article.