The Nigerian Stock Exchange Industrial Index at the close of trading activities in the third month of 2021, closed on a bearish note, with the index depreciating by 0.44%, to close at 1,889.76 index points for the month.
A preview of the performance of the index revealed that it shed a total of 8.44 index points in the month of March, to complete two consecutive months of decline.
The drop in the index for the second consecutive month in March was occasioned by the decline in the shares of Dangote Cement, Lafarge WAPCO, Portland Paints and two others.
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 was bearish in March as the index closed on a negative note with five losers relative to four gainers.
- CAP (13.85%) led the gainers’ list followed by BETAGLAS (8.00%) and CUTIX (4.21%), while BERGER (-10.34%) led the loser’s chart for the month, followed by PORTPAINT (-9.85%) and WAPCO (-4.33%).
• CAP up by 13.85% to close at N22.20.
• BETAGLAS up 8.00% to close N54.00.
• CUTIX up by 4.21% to close at N2.23.
• BUACEMENT up 2.08% to close N73.50
• BERGER down by -10.34% to close at N6.50
• PORTPAINT down by -9.85% to close at N2.93
• WAPCO down by -4.33% to close at N22.10
• DANGCEM down by -2.08% to close at N215.00