Consumer Goods Companies lead NSE N72bn gains: Nestle and Unilever Dominates

Consumer goods manufacturing giants, Nestle Nigeria Plc and Unilever Plc led other companies in the consumer goods industry to push activity in the Nigerian Stock Exchange, NSE, to a positive close as investors recorded N72 billion gains last week.

At the close of trading, the equities capitalisation, which represents investors’ wealth, went up to N8.734 trillion from N8.656 trillion the previous week, representing 0.9 per cent increase. Also, the All Share Index, ASI, appreciated by 225.93 basis points to close at 25,238.01 points from 25,012.08 points.

An apparent positive investors’ disposition towards shares of companies in the consumer goods industry helped the sector to appreciate the most at 5.23 per cent driven by 16.96 per cent and 11.46 per cent gains in Nestle Nigeria Plc and Unilever Nigeria Plc respectively, to strongly close activity across the sectors.

The banking and insurance sector recorded marginal increases, recording 0.1 per cent and 0.03 per cent returns respectively. On the other hand, the industrial goods sector fell by 2.94 per cent on account of losses on Lafarge Africa Plc, followed by the oil and gas sector that fell by 2.36 points The NSE 30 index appreciated by 1.34 per cent, while the Alternative Securities Market, AseM, index closed flat at 1,193.52 points.

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