Consumer Goods index contracts by 1.46% to close at 531.97 index points

The NSE Consumer goods index retraced the previous week’s gains of 2.18%, by about 67%.

The Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the performance of consumer goods companies, contracted by 1.46%, to close at 531.97 index points in the week that just finished amidst selling down in the shares of Nigerian Breweries, Dangote Sugar, and International Breweries.

A preview of the performance of the index revealed that at the close of trading activities on Friday 19th of March 2021, the NSECG index depreciated by 1.46% to close the week lower at 531.97 index points, from 528.32 index points at the open of trade for the week.

In line with this, the Consumer Goods Index lost a total of 7.88 index points, retracing the previous week’s gains of 2.18%, by about 67%.

The index also underperformed the market index, noting that the All-Share Index and the market capitalization depreciated by -0.69%, to close the week at 38,382.39 points and N20.082 respectively.

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 International Breweries.

The overall performance of the companies was relatively bearish, as the index closed on a negative note retracing the previous week’s gains by 67%.

NNFM (9.73%) led the gainers’ chart, followed by GUINNESS (7.66%), while NB (-5.34%) topped the losers list, followed closely by DANGSUGAR (-5.29%).

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