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Consumer Goods

NSE CGI down by 0.93%, as shares of Unilever, Dangote Sugar, PZ decline

NSE Consumer goods Index closed the week at 588.40 index points, as shares of Dangote Sugar, Unilever, others dipped.

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Closed Period, Investors' demand for Nigerian stocks climb, as portfolio investment gains N223.4 billion, NSE CGI down by 0.93%, as shares of Unilever, Dangote Sugar, PZ decline

NSE Consumer goods Index closed the week at 588.40 index points, as shares of Dangote Sugar, Unilever, Flour Mills, PZ, and two other companies declined on the NSE.

The Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the performance of all consumer goods companies listed on the Nigerian Stock Exchange, depreciated by 0.93% in the week ended 12th February 2021.

The decline in the index was driven largely by the performance of big names like Dangote Sugar, Unilever, Flour Mills, PZ, and two 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 12th February 2021, the index stood at 588.40 index points, from 593.91 index points at the close of trade on Friday 5th February 2021.

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 6 losers relative to 4 gainers. MCNICHOLS (+9.59%) led the gainer’s chart for the week, while Northern Nigerian Flour Mills (-18.84%) was the top loser.

Top Gainers

  • MCNICHOLS up 9.59% to close at N0.80
  • GUINNESS up 6.32% to close N20.2
  • VITAFOAM up 3.33% to close at N9.3
  • CHAMPION up by 2.89% to close at N2.85

Top Losers

  • NNFM (N Nig. Flour Mills) down by 18.84% to close at N7.02
  • FLOURMILLS down by 4.61% to close at N30.00
  • UNILEVER down by 4.45% to close at N13.95
  • PZ down by 4.42% to close at N5.40
  • DANGSUGAR down by 4.00% to close at N19.20

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Consumer Goods

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

The NSE Consumer goods index shed a total of 49.84 index points in February, the highest loss on the index since March 2020.

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Top 10 stockbroking firms trade N1.35 trillion on stocks in 2019, Nigerian stockbrokers facing extinctionBanking stocks lay anchor on the shaky waters of Nigerian Stock Market, Nigerian banking stocks ignore red flags, boost nigeria stock market, stock market

The Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the performance of consumer goods companies, depreciated by 8.12% in the month of February at the back of sell-offs and building negative sentiments in the market.

A preview of the performance of the index revealed that as of the close of trading activities on Friday 26th February 2021, the index stood at 563.85 index points, from 613.69 index points at the open of trade for the month.

In line with this, the Consumer Goods Index shed a total of 49.84 index points – the highest since March 2020 (-132.53 index points)- as wary investors offload shares of top consumer goods company on NSE, leading to the decline in the share price of Nestle, Dangote Sugar, Flour Mills, NB and eight (8) others.

Source:Tradingview

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 February with 12 losers relative to 3 gainers.
  • NNFM (-27.48%) led the losers’ chart, while MCNICHOLS (+56.86%) was the top gainer in the month of February, followed by GUINNESS (+21.32%).

Top gainers

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

Top losers

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

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Consumer Goods

Unilever to spin off Tea business such as Lipton, Brooke Bond in major restructuring

Unilever wants to split its Tea business as a separate entity.

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Unilever Overseas increases stake in Unilever Nigeria Plc

Leading personal care and consumer goods company, Unilever announced plans to spin off its Team Business into a separate legal entity. 

The company announced this via a press release published on the website of the Nigerian Stock Exchange. The update is coming at least 6 months after its Parent company Unilever Global announced plans to spin off of its Tea Business.  

In January 2020, Unilever announced a strategic review of the global tea business, agreeing to retain the tea businesses in India and Indonesia, and the partnership interests in the ready-to-drink tea joint ventures. 

The company also revealed the balance of ittea brands and geographies and all tea estates have an exciting future, and this potential can best be achieved as a separate entity” paving the way for the implementation of a separation that will conclude this year. Unilever did not announce if it will own the entity that will be overseeing its Tea Business. The tea business that will be separated generated revenues of €2 billion in 2019. 

Unilever Nigeria’s announcement confirms its Lipton segment will be spun off its balance sheet, a move that could potentially affect its top line revenue.  

What you should know 

The Food Products division which includes its tea and savoury segment reported a revenue of N34.71 billion in 2020higher than the revenue of N31.91 billion the company made in 2019 through the sales of tea and savoury. 

Unilever Nigeria is currently valued at N78 billion. 

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