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NSE CGI falls by 3.71% in March as Nestle, NB and PZ shares decline

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The Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the performance of consumer goods companies, depreciated by 3.71% in the month of March following sustained sell down in the shares of listed consumer goods companies on the NSE.

A review of the performance of the index revealed that as of the close of trading activities on Wednesday 31st March 2021, the index stood at 542.94 index points, from 563.85 index points at the open of trade for the month.

In line with this, the Consumer Goods Index shed a total of 20.91 index points to print the second decline in two months, as wary investors offloaded shares of top consumer goods, leading to the decline in the shares of Nestle, Nigerian Breweries, PZ, Dangote Sugar and eight (8) others.

This is the first time the index would print a two-month consecutive decline since February 2020.

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 in the month of March with 13 losers relative to 2 gainers.
  • NNFM (-11.68%) led the losers’ chart, while GUINNESS (+47.07%) was the top gainer in the month of March, followed by VITAFOAM (+7.10%).

Top Gainers

  • GUINNESS up by 47.07% to close at N33.90.
  • VITAFOAM up 7.10% to close N8.30.

Top Losers

  • NNFM down by 11.68% to close at N6.20.
  • CHAMPION down by -10.71% to close at N2.25.
  • PZ down by 8.49% to close at N4.85.
  • NB down by 6.73% to close at N48.50.
  • DANG SUGAR 5.56% to close at N17.00.

Source: nairametrics
Via: norvanreports
Tags: Dangote SugarNestleNigerian BreweriesNigerian Stock Exchange Consumer Goods Index (CGI)PZ
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