What To Expect From The Markets This Week – 180219

Proshare

Saturday, February 16, 2019 08:00 AM / Proshare Content


Nigeria: Economic Dashboard @ 150219

 

Proshare Nigeria Pvt. Ltd.


Editor’s Pick

 

Source: Vetiva Weekly Market Wrap - February 15, 2019

 

Pre-election Week Ends on a Positive Note

In its fourth positive session this week, the Nigerian Bourse advanced 81bps d/d, contributing to a 3.76% gain w/w. Strong performances from the Oil & Gas (+594bps w/w) and Consumer Goods (+541bps w/w) sectors were the main drivers of the positive market performance, driven by advances in OANDO (+20.00% w/w), SEPLAT (+10.44% w/w), MOBIL (+222bps w/w), UNILEVER (+17.57% w/w), CADBURY (+15.00% w/w) NB (+641bps w/w) and NESTLE (+433bps w/w). Meanwhile, the Industrial Goods sector (+162bps w/w) was the third largest gainer despite a 104bps loss on Friday, after gains in DANGCEM (+458bps w/w) and WAPCO (+440bps w/w) outweighed a loss in CCNN (-455bps w/w) to boost the sector. Finally, the banking sector (+ 159bps w/w) saw the smallest gains after UBN (+10.40% w/w), ETI (+ 511bps w/w), UBA (+458bps w/w) and ZENITHBANK (+143bps w/w) outweighed losses in GUARANTY (-181bps w/w) and ACCESS (-75bps w/w).

 

• We expect to see a market rally at the start of the week driven by a return of certainty following the successful conclusion of the presidential election, barring any political unrest from the election results.

 

• Stock Watch: LIVESTOCK posted strong gains this week, appreciating 44% after green closes in four out of five sessions. The stock gained 9% today to close at 0.72, trading at its year-high price with a year-todate return of 47%.

 

Expect a quiet open to the week in FI market

• This week, the CBN remained active in the Primary market, conducting three OMO auctions and selling c.545 billion (740 billion offered) across the short, mid and long-dated bills at stop rates of 11.90%, 13.50% and 15.00% respectively. Notably, there was a “No sale” on Tuesday even as investors keyed in bids at same stop rates for the 65 billion offered. The CBN also conducted its bi-monthly T-bills PMA, offering and selling 153 billion across the three bills at stop rates of 10.97%, 13.40% and 14.95% respectively – lower than previous PMA auction stop rates. 

 

• Meanwhile, in the treasury bills secondary market, yields advanced 7bps w/w, with mixed to negative sentiment prevalent in the week. Particularly, whilst the yield on the 27DTM bill advanced 94bps w/w to settle at 12.11%, the yield on the 335DTM bill declined 46bps w/w to settle at 16.66%. The bond space was similarly mixed with a bearish tilt, with yields advancing 8bps w/w on benchmark notes. Specifically, whilst the yield on the 12.50% FGN JAN 2026 bond advanced 19bps w/w to close at 14.83%, the yield on the 10.00% FGN JUL 2030 bond declined 14bps w/w to close at  14.56%.

 

• With a base expectation of a relatively peaceful and favourable close to the general elections, we anticipate a rally in riskier asset classes and foresee a quiet open to the week in the FI market even as investors begin to take positions ahead of the Bond auction on Wednesday. 

 

• The Naira appreciated 0.08 w/w at the I&E FX Window to settle at 361.65 and depreciated 1.00 w/w to settle at 360.50 against the dollar in the parallel market.


Proshare Nigeria Pvt. Ltd.


 

Monday, February 18, 2019

 The National Bureau of Statistics will on this day release the Selected Banking Sector Data, Sectorial Breakdown of Credit, epayment Channels and Staff Strenght (Q4 2018) while the Fate Foundation will on this day hold training on 2019 Aspiring Entrepreneurs Digital at Fate Foundation, Lagos Water House Corporation, Ijora.

 

Tuesday, February 19, 2019

The National Bureau of Statistics will on this day release the Road Transport Data (Q4 2018)

 

The United States’ NAHB Housing Market Index (Feb) will be released on this day.

 

Wednesday, February 20, 2019

 The AAMEI’s Eco Journalism Academy 2018/9 will on this day hold the Development and Nature-Reporting the Connection at LUFASI Park, Lekki, Lagos State while the United States’ Mortgage Market Index will be released on this day.

 

Thursday, February 21, 2019

The National Bureau of Statistics will on this day release the Gross Domestic Product (GDP) by Expenditure Q1 and Q2 2018

 

Friday, February 22, 2019

The Nigeria Stock Exchange will on this day launch the Mutual Funds Trading Platform at Stock Exchange House.

 

The Nigerian General Elections to elect the President and members of the National Assembly will hold on this day across the nation.


Proshare Nigeria Pvt. Ltd.

 

Check out our Events Calendar for event details and follow us on Web, TV, APP and Social Media for updates as the week unfolds. Yours to Serve! 

 

Proshare Nigeria Pvt. Ltd.


Contact for Details:

For further information, enquiry or submission of information, kindly email market@proshareng.com and research@proshareng.com Tel: 0700PROSHARE (070077674273). Call us NOW!

 

Proshare Nigeria Pvt. Ltd.

 

 

Latest Reports This Past Week

1.      Average Prices of PMS, AGO, HHK and Cooking Gas – January 2019

2.     Headline Inflation Increases By 11.37% YoY in January 2019; 0.07% Lower Than December 2018 Rate

3.     Nigeria’s GDP Grew By 2.38% YoY in Real Terms in Q4 2018 and 1.93% in Full Year 


Proshare Nigeria Pvt. Ltd.      

     

Latest Videos This Past Week

Proshare Nigeria Pvt. Ltd.  Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

                   


View More Economy, Business, Finance, Investment, Creative Art Videos from WebTV Here

 

Previous Week(s) Market Outlook

1.      What To Expect From The Markets This Week – 110219

2.     What To Expect From The Markets This Week – 040219

3.     What To Expect From The Markets This Week – 280119

4.     What To Expect From The Markets This Week – 210119

5.     What To Expect From The Markets This Week – 140119     


Proshare Nigeria Pvt. Ltd.


 

Related News

1.      Nigerian Stock Market Halts Negative Sentiment as NSEASI Inches By 0.12%

2.     Investors Lose N18.05bn As Market Sentiment Turns Negative

3.     Investors Gain N253.75bn as NSEASI Closes Above 32,000bpts

4.     Market Opens The Week On A Positive Note as NSEASI Inches Up By 0.80% WoW


Proshare Nigeria Pvt. Ltd.

 

Read More - The Monthly Proshare CONFIDENTIAL   

 

1.       Budget 2019: The Hidden Monsters

2.      Surviving Uncertain Times in the Nigerian Financial Market

3.      The Rich, The Poor and Buharinomics

4.      Nigerian Banks’ Performance – H1 2018

5.      AMCON and Financial Services Debt Burden in Nigeria

6.      Poverty Tracker and Nigeria: Raising The Red Flag

7.      POCKET Economics: Addressing Income Inequality

8.     The Silent Drug Epidemic: A Gathering Storm

9.      Judging IMF’s Position on Development Indices

10.  Money Market: The Folk Road

11.   The Headache of Missing Targets

12.  2018 Outlook on the Nigerian Economy: The Need for an Even Keel

13.  Nigeria External Economy and the White Noise of Import Dependency

14.  States and the Rising Weight of Debt

15.   Money Supply: Reeling from Policy Response 

READ MORE:
Related News
SCROLL TO TOP