NSE CGI depreciates by 8% in February, recording highest decline since March 2020

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The Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the efficiency of client items corporations, depreciated by 8.12% within the month of February behind sell-offs and constructing adverse sentiments out there.

A preview of the efficiency of the index revealed that as of the shut of buying and selling actions on Friday twenty sixth February 2021, the index stood at 563.85 index factors, from 613.69 index factors on the open of commerce for the month.

In line with this, the Consumer Goods Index shed a complete of 49.84 index factors – the very best since March 2020 (-132.53 index factors)- as cautious traders offload shares of high client items firm on NSE, resulting in the decline within the share worth of Nestle, Dangote Sugar, Flour Mills, NB and eight (8) others.

Source:Tradingview

What you need to know

  • The NSE Consumer items Index was designed to supply an investable benchmark to seize the efficiency of corporations within the client items sector. The index includes essentially the most capitalized and liquid corporations in meals, beverage, and tobacco.
  • The index relies in the marketplace capitalization methodology, because it tracks the efficiency of fifteen client items corporations on the Nigerian Stock Exchange which incorporates, Nestle, Nigerian Breweries (NB), Dangote Sugar, and Flour Mills.
  • The general efficiency of the businesses was bearish, because the index closed on a adverse be aware within the month of February with 12 losers relative to three gainers.
  • NNFM (-27.48%) led the losers’ chart, whereas MCNICHOLS (+56.86%) was the highest gainer within the month of February, adopted by GUINNESS (+21.32%).

Top gainers

  • MCNICHOLS up 56.86% to shut at N0.8
  • GUINNESS up 21.32% to shut N23.05
  • UNILEVER up 0.74% to shut at N13.95

Top losers

  • NNFM down by 27.48% to shut at N7.02
  • VITAFOAM down by 22.89% to shut at N7.75
  • CHAMPION down by 18.97% to shut at N2.52
  • NB down by 17.46% to shut at N52
  • FLOURMILLS down by 16.86% to shut at N28.85

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