April 18, 2016/Cordros

• The domestic bourse opened on a bearish note, closing 0.28% lower, following declines across major counters.

• Trading was delayed for about 4 hours today, owing to technical glitches at the NSE.

• The All Share Index closed at 24,650.92 points. Market capitalization fell by N23.51 billion to N8.48 trillion, increasing the Month-to-Date and Year-to-Date losses to 2.59% and 13.94% respectively.

• The Banking (-0.60%), Consumer Goods (-0.64%) and Industrial Goods (-0.03%) indices closed negative, owing to losses recorded by ZENITHBANK (-1.31%), GUARANTY (-0.13%), NB (-1.42%), GUINNESS (-0.41%), CCNN (-4.98%) and CUTIX (-4.86%) respectively. The Insurance (-0.32%) and Oil & Gas (-0.84%) indices also closed in the red, as they succumbed to respective price declines in AIICO (-4.17%) and OANDO (-8.33%).

• Market breadth was negative, with 11 gainers versus 23 losers. Total volume traded dipped by 70.38% to 129.70 million shares, valued at N582.45 million, and exchanged in 1,588 deals.

• Corporate Releases: FY’2015 earnings results: DNMEYER (PAT: +244.52% y/y); MCNICHOLS (PAT: +44.84% y/y. Proposed dividend: 5 kobo per share. Bonus: 1 for 10). Q1-2016 earnings results: ZENITHBANK (PAT: -4.00% y/y).

• With today’s activities strongly indicating dampened sentiments, we see the market likely closing negative in tomorrow’s session.