The Nigerian Stock Exchange Industrial Index at the close of trading activities for the third week in the month of March closed on a bearish note as the top loser for the week ahead of other sectors.
At the close of trading activities on the Nigerian Stock Exchange on the 19th March 2021, the industrial index declined by -50.38 index points, to close at 1,873.17 index points for the week.
When compared to the overall performance of the market, the NSE Industrial index underperformed, as it declined by 2.62%, while the NSE All-Share Index and the market capitalization depreciated by -0.69%, to close the week at 38,382.39 points and N20.082 respectively.
What you should know
- The NSE Industrial Index was designed to provide an investable benchmark to capture the performance of the Industrial Sector. It comprises the most capitalized and liquid companies in the industrial sector and is based on the market capitalization methodology.
- The index monitors the performance of ten industrial companies on the Nigerian Stock Exchange which includes Dangote, BUA, and Lafarge Cement.
- The overall performance of the companies for the week was relatively bearish, as the index closed on a negative note driven by a huge loss from BUA Cement shares.
- BERGER (7.44%) was the top gainer for the week, followed by CUTIX (3.05%) and WAPCO (2.73%), BUACEMENT was the only loser for the week, but the size of the Cement maker dragged the index to close lower by more -2.62%.
- BERGER up by 7.44% to close at N6.50.
- CUTIX up by 3.05% to close at N2.03
- WAPCO up by 2.73% to close at N22.60
- BUACEMENT down by -6.42% to close at N69.95.