The Week in View

What Moved the Markets this Week? Nigeria|May 20, 2022

On the Global scene, the UK inflation statistics for April was releasd during the week. The data revealed that inflation surged to 9.00%, (the highest level in 40 years) the increase in consumer prices was Market Performance
driven by the higher tax rates and household energy bills amid ensuing tradewar with Europe. On another front, The People's Bank of China cut its loan prime rate by 15bps to 4.45% during the week. Equities This Week Previous Week %∆
According to the Bank, the cut in rate was in a bid to increase loan demand to ease housing pressures and boost business and consumer confidence which have been impacted by the Covid-19 NGXASI 52,979.96 53,100.21 -0.23%
lockdown. 2.24 1.79
Volume ('bn) 24.67%
On the domestic front, The National Bureau of Statistics (NBS) released the inflation data for April. According to the report, headline inflation increased to 16.82%, (vs 15.92% in March). This increase Value ('bn) 28.81 27.17 6.02%
represents an eight-month consecutive rise since August 2021. The uptick in headline inflation was influenced by both the food and core index. Food index contributed the most to the general uptick Mkt. Cap. ('bn) 28.56 27.46 4.01%
increasing by 117bps to 18.37%YoY (vs. 17.20%YoY in March 2022) and was largely driven by higher prices of Bread, Cereals, Potatoes, Yam, Fish, Meat, Oils, and Wine. Core inflation also increased to Market Breadth 0.88x 1.59x
14.18%YoY (vs. 13.91% in March) as the increase in prices of Gas, Cleaning, Clothing, and Liquid Fuel influenced the direction of the core index.
Sectoral Indices WtD MtD YtD
The Nigerian equities market reversed its buliish run from the previous weeks as the All-Share index declined by 0.23% WoW to 52,979.96pts. Thus, the Year-to-Date return declined to 24.03% WoW. NGXBNK -1.24% -0.94% 6.07%
Sentiment was mixed across sectoral indices as the NGXINS (+3.63% WoW) and NGXOILGAS (+0.30% WoW) closed in the green, while the other sectoral indices closed down. NGXCNSMRGDS -1.01% 11.87% 17.34%
NGXOILGAS 0.30% 6.09% 61.24%
Also, in the fixed income secondary market, sentiment was mixed, as average bond yield declined to 10.13% (from 10.23% the previous week). Average T-bills yield however increased to 3.98% from 3.63% -0.37% -2.91%
NGXINS
3.42% in the previous week.
NGXINDUSTR -0.61% 4.98% 14.23%
NGX-ASI -0.23% 6.73% 24.03%
Market Outliers
Top Gainers
Top Losers

PZ 12.07%
-12.03% GLAXOSMITH

STANBICETF30 18.33%
-14.65% MAYBAKER

ABBEYBDS 20.44%
-15.79% FTNCOCOA

NNFM 20.60% -18.54% ACADEMY

TRANSCOHOT 20.70% -25.49% ROYALEX

Weekly Trading Activity

Volume ('mn) Value ('bn)

8.05
526.91

339.12

3.49
192.24 2.85
145.85 2.36
101.31
1.30

JAIZBANK TRANSCORP FBNH GTCO CHIPLC

MTNN GTCO SEPLAT FBNH AIRTELAFRI

Fixed Income Monitor

Weekly Currency Watch Money Market Rates Bond Yields

20-May-22 31-Dec-21
Sectoral Indices This Week Previous Week %∆ Sectoral Indices This Week Previous
I & E (per USD) 419.03 419.00 -0.01% OBB 11.17% 8.67% 14.00%
OVN 11.43% 9.17% 12.00%
Average 11.30% 8.92% 10.00%
8.00%
6.00%
4.00%
Bond Yields Treasury Bills Yields 2.00%
Sectoral Indices This Week Previous Week %∆ Sectoral Indices This Week Previous 0.00%
1YR 3.94% 4.57% -0.63% 1MTH 3.11% 3.07% 1YR 3YR 5YR 7YR 10YR
3YR 7.85% 7.49% 0.35% 3MTH 3.51% 3.57% Treasury Bills
5YR 10.66% 10.69% -0.03% 6MTH 3.95% 3.88%
7YR 11.15% 11.35% -0.20% 9MTH 4.41% 4.39% 20-May-22 31-Dec-21
10YR 12.44% 11.73% 0.71% 12MTH 4.93% 4.84%
6.00%
30YR 12.85% 12.80% 0.05% Average 3.98% 3.95%
5.00%
4.00%
In Other Markets 3.00%
Column1 Nigeria Ghana Egypt Kenya South Africa Frontier Emerging Developed 2.00%
Today -0.55% -0.18% 0.79% -0.69% -0.38% -0.55% -1.77% -0.73% 1.00%
WtD -0.23% 0.09% 0.00% -5.11% -0.97% 1.15% 1.03% 0.84% 0.00%
YtD 24.03% -8.19% -11.71% -20.39% -7.77% -12.21% -17.62% -16.16% 1MTH 3MTH 6MTH 9MTH 12MTH

P/E 10.82x 6.40x 2.36x 7.36x 10.00x 11.60x 11.43x 13.53x

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