The NGX Consumer Goods Index surged by 6.55% in the trading week ending February 21, 2025, closing in positive territory as individual stocks rallied.
This follows a decline in the previous week, during which the index fell by 3.63%, dropping from an opening of 1,798.3 to a closing value of 1,733.0.
However, in the trading week ending February 21, the index rebounded impressively, rising by 6.55% on a market volume of 167 million shares.
As outlined in the NGX’s weekly market report, BUA FOODS and DANGOTE SUGAR both experienced impressive gains of over 11%, with CHAMPION BREWERIES climbing 9.87%.
Market trend
The Consumer Goods Index is experiencing a strong upswing in 2025, following an impressive year-to-date performance of 54.44% in 2024. This bullish momentum is marked by significant price increases driven by strong rallies in key individual stocks
- The year 2025 began with the index at 1,743.4, quickly surpassing the 1,800 mark to reach 1,809.1 by the fifth week.
- However, a slight pullback in early February brought the index down to 1,733, reflecting a decline of over 3.60% from its previous high of 1,809.1.
Despite this setback, the index experienced a rebound, aided by a rise in heavyweight stocks during the week ending February 21, 2024.
- It increased by over 6%, closing in positive territory and reflecting the steady performance of the consumer goods sector so far in 2025.
Analyst projections
In early February, CardinalStone analysts expressed a positive outlook for consumer goods stocks throughout February 2025, following a wave of financial statements released in late January and early February.
- Their insights, shared in the monthly equity research report on February 3, 2025, reviewed January’s market trends and set the stage for February.
- The report highlighted that the direction of the market would largely depend on investor reactions to the ongoing release of FY’24 financial results, which could bolster consumer goods stocks.
- Their analysis suggested that these stocks might benefit from favorable sentiments, supported by a solid Q4 2024 performance and relative stability of the Naira during that period.
The report noted, “We anticipate that certain consumer goods counters may gain momentum, driven by a stronger Q4’24 and Naira stability.”
On the global front, analysts indicated that markets would be closely watching Trump’s tariff decisions, with investor sentiment poised to react to critical economic indicators, including the US January CPI data.
