Nigerian Stock Exchange All Share Index slid into the red zone as it shed 53bps despite a majority of gainers over losers – twenty four stocks gained against thirteen which lost. NSE Premium Index slumped by 241bps following loss from Dangote Cement shares.
At the close of business, total deals, transacted volumes and Naira votes increased by 3.80%, 25.24% and7.91% respectively even as shares of Zenith Bank and Guaranty Trust Bank jointly accounted for 52% of total Naira votes. Gainers & Losers Major building materials manufacturer, Lafarge Africa, gained N2.50 to close at N85.00 a share while paints maker, Chemical & Allied Products, climbed by N0.94 to N38.50 a share. However, Dangote Cement shed N4.88 to close at N163.12 while beer maker, Nigerian Breweries, tumbled by N1.96 to N96.04 a share.
Profit Guidance: Computer Ware House Group Plc (FY December 2015)
Following the preliminary review of the Group’s management accounts, the company’s Board of Directors announced that it expects to incur a number of significant one-off charges which will contribute to an overall
loss for the financial year ended 31 December 2015. The charges include:
Foreign exchange losses, Inventory write-offs, bad debt write-offs and operational loss. However, the Board has taken steps to reposition the Group for an improved performance in 2016, driven by its recent investments in cloud and subscription based business, increased efforts in making its traditional reseller business more efficient and a restructuring of operations for more focus on profitability.
Interbank Money Market
Nigerian Interbank Offered Rates increased for all tenor buckets amid liquidity strain. NIBOR for overnight funds, 1 month, 3 months and 6 months rose to 4.79%, 8.05%, 9.40% and 11.09% respectively.
FGN Bond Market – OTC NG
FGN bond prices at the OTC market appreciated for most maturities on renewed bargain hunting activities. The 20-year, 10% FGN JUL 2030 paper, the 10-year, 16.39% FGN JAN 2022 debt and the7-year 16.00%
FGN JUN 2019 bond gained N0.58, N0.56 and N0.17 respectively while corresponding yields fell to 11.91%, 11.38% and 10.23%.
Source: Cowry Assets.