The decline in the index was driven largely by the performance of big names like Nestle, Nigerian Breweries, Flour Mills, Dangote Sugar, and four other companies on NSE, whose shares decline during the week under review.
A preview of the performance of the Consumer goods Index revealed that as of the close of trading activities on Friday 5th February 2021, the index stood at 593.91 index points, from 613.69 index points at the close of trade on Friday 29th January 2021.
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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 bearish as the index closed on a negative note with 8 losers relative to 3 gainers. MCNICHOLS (+43.14%) led the gainer’s chart for the week, while Champion (-10.93%) was the top loser.
READ: Nigerian stocks end near stalemate, despite gains from Nestle, Airtel, Dangote
- MCNICHOLS up 43.14% to close at N0.73
- UNILEVER up 8.15% to close N14.6
- INTBREW up 3.33% to close at N6.2.
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- CHAMPION down by 10.93% to close at N2.77
- NNFM (N Nig. Flour Mills) down by 10.64% to close at N8.65
- VITAFOAM down by 10.45% to close at N9.00
- FLOURMILLS down by 9.37% to close at N31.45
- DANGSUGAR down by 5.88% to close at N20.