Connect with us
british airways


Consumer goods index gains 7.48 point, driven by gains in Guinness, Intbrew and Vitafoam shares

The NSE Consumer goods index gains 7.48 point, at the back of growth in the share price of Guinness, Intbrew and Vitafoam shares.



InfoWARE Asset Management solution

The Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the performance of consumer goods companies, appreciated by 1.41%, to close at 539.45 index points this week, at the back of gains in the shares of Guinness, IntBrew and Vitafoam.

A preview of the performance of the index revealed that at the close of trading activities on Friday 26th of March 2021, the NSECG index appreciated by 1.41% to close the week higher at 539.45 index points, from 531.97 index points at the open of trade for the week.

In line with this, the Consumer goods Index gained a total of 7.48 index points during the week.

The consumer goods index underperformed the market index, noting that the All-Share Index and the market capitalization appreciated by 2.17%, to close the week at 39,216.20 and N20.518 trillion respectively.

READ: Nigerian Blue Chip stocks suffer heavy losses amid high profit-taking

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 International Breweries.
  • The overall performance of the companies was relatively bullish, as the index closed on a positive note, 7.48 index points higher.
  • GUINNESS (18.58%) led the gainers’ chart, followed by INTBREW (11.76%), while CHAMPION (13.11%) topped the losers list, followed closely by DANGSUGAR (-3.53%).

READ: Industrial index depreciates by -2.62%, as BUA Cement shares decline

Top gainers

  • GUINNESS up by 18.58% to close at N30.00.
  • INTBREW up by 11.76% to close at N5.70.
  • VITAFOAM up by 6.41% to close at N8.30.
  • HONYFLOUR up by 3.77% to close at N13.75.

Top losers

Sigma Pensions
  • CHAMPION down by 13.11% to close at N2.12.
  • DANGSUGAR down by -3.53% to close at N16.40.
  • FLOURMILLS down by -3.03% to close at N28.80.

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.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Ripple’s CTO advises investors to reduce their crypto investments

The crypto leader recently made the warning on Twitter.




David Schwartz, Ripple’s Chief Technology Officer has advised investors and crypto traders to consider offloading some amounts of their crypto holdings to reduce risk. The crypto leader recently made the warning on Twitter.

“This is probably going to be my least popular tweet ever, but: If you have life-changing amounts of cryptocurrency, please take some time to seriously consider selling some to reduce your risk and exposure. This is not any kind of prediction about what the market will do,” his tweet stated.

READ: Billionaire investors in Nigeria you may not know

To lend credence to his advice, about $1.39 billion dollars were liquidated in the crypto market arbitrarily with about 240,759 traders liquidated.

The largest single liquidation order happened on Huobi-XRP valued at $11.69 million.

Despite the recent pullback in some trending crypto assets, some crypto traders remain upbeat that crypto assets are the best tools for hedging against rising inflation, offer better returns than many traditional assets, and are set to win more attention from the corporate world.

READ: US moves against misuse of cryptocurrencies, to employ new financial technologies

Sigma Pensions

Many weeks ago, the Financial Conduct Authority, a leading United Kingdom financial regulator, issued a piece of stern advice on the risk associated with trading crypto assets.

The statement highlighted the risks associated with investing in Bitcoin and other crypto-assets and warned the public that there were high chances that all their funds could be lost.

british airways

READ: List of unpopular Cryptos likely to outperform

“The FCA is aware that some firms are offering investments in crypto assets or lending or investments linked to crypto assets, that promise high returns.

Investing in crypto assets, or investments and lending linked to them generally involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money,” said the FCA.

Stanbic 728 x 90

Continue Reading


Coinbase success: Rapper Nas among early investors, set to make over $100 million

Nasir Jones is amongst the earliest investors in Coinbase via his Queensbridge Venture.



The trending news in the cryptoverse is the successful direct listing of Coinbase on the NASDAQ, which happened on Wednesday, 14th April 2021. So far, the returns are looking very good for early investors in the crypto trading company.

According to CNBC, Coinbase closed its first day in NASDAQ at a value of $328.28 per share and a valuation of $85.8 billion. During the course of the day, Coinbase valuation exceeded $100bn but later dropped to $85.8bn.

READ: Coinbase executes over $1 billion Crypto trades for world’s biggest clients

Rapper Nas and QueensBridge Venture Partners

Legendary rapper, Nasir Jones who owns and runs Queensbridge Venture Partners together with its Co-Founder Anthony Saleh were amongst the earliest investors in Coinbase.

QueensBridge Venture Partners invested in Coinbase as early as 2013 in a Series B round back when it raised $25 million. Around that time, Coinbase was valued at about $143 million. According to QueensBridge Co-Founder, the venture capital firm made an investment of $100,000 to $500,000.

READ: Coinbase makes debut on Nasdaq as Bitcoin, Ethereum XRP post all-time highs

Calculated ROI 

According to Coindesk, at the time of Nas’ investment, a single unit of Coinbase share sold for $1.00676. With an investment of $100,000 to $500,000 QueensBridge stands to own 99,329 to 496,642 unit shares.

With Coinbase trading at an average price of $350 yesterday, Nas and his VC firm stand to earn between $34.76 million and $173.8 million ROI, according to Coindesk. The number can be a lot higher given that this is just Coinbase’s first day on NASDAQ and some experts expect its price to increase.

Sigma Pensions

READ: Google founders earn $42 billion in 100 days

Happy Nas

Nas celebrated his smart investment with a tweet eulogizing cryptocurrency. His VC firm also invested in Robinhood and Dropbox.

british airways

What you should know 

  • Coinbase was listed directly. This is quite different from an initial public offering (IPO). According to Investopedia the difference between an IPO and a direct listing process is the presence and absence of new shares.
  • In an IPO, the company involved creates new shares and employs underwriters before going public.
  • In a direct listing only existing or outstanding shares are made public. Companies that pursue this strategy usually don’t employ underwriters.

Continue Reading


Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.