NSE Consumer goods index expands by 2.18%, printing first gain in 6 weeks

THE Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the performance of consumer goods companies, grew by 2.18%, to close at 539.85 index points this week amidst buying pressures in some key select stocks with value.

A preview of the performance of the index revealed that at the close of trading activities on Friday12th of March 2021, the NSECG index appreciated by 2.18% to close the week higher at 539.85 index points, from 528.32 index points at the open of trade for the week.

In line with this, the Consumer goods Index gained a total of 11.53 index points, to halt a five-week streak of contraction in the index.

The recent rise in the index was occasioned by the buying pressures in the shares of few select companies with impressive fundamentals this week.

When compared to the overall performance of the market, the NSE Consumer goods index outperformed the NSE All-Share index, noting that the NSE ASI and market capitalization by depreciated 1.74% to close the week at 38,648.48 and N20.221 trillion respectively.

What you should know

• The NSE Consumer goods Index was designed to provide an investable benchmark to capture the performance of companies in the consumer goods sector. The index comprises the most capitalized and liquid companies in food, beverage, and tobacco.
• The index is based on the market capitalization methodology, as it tracks the performance of fifteen consumer goods companies on the Nigerian Stock Exchange which includes, Nestle, Nigerian Breweries (NB), Dangote Sugar, and Flour Mills.
• The overall performance of the companies was relatively bullish, as the index closed on a postive note in the second week of March with 8 advancers.
• CHAMPION (45.24%) led the gainers’ chart, followed by FLOURMILLS (10.00%) and NASCON (7.69%)

Top Gainers

• CHAMPION up by 45.24% to close at N2.44.
• FLOURMILLS up by 10.00% to close at N29.70.
• NASCON up by 7.69% to close at N14.00.
• HONYFLOUR up by 6.96% to close at N1.23.
• DANGSUGAR up by 6.21% to close at N17.95.

Top Losers

• NNFM down by -10.60% to close at N1,375.
• INTBREW down by -4.33% to close at N5.30.
• PZ down by -4.00% to close at N5.00.
• CADBURY down by -3.61% to close at N8.00.
• VITAFOAM down by -2.00% to close at N7.35.

NSE Consumer goods index expands by 2.18%, printing first gain in 6 weeks