Consumer goods stocks like that of Honeywell Flourmills Plc closed higher at the end of last week's transactions on the Nigerian Exchange Limited (NGX).
Stock Exchange
The stock market extended losses to three consecutive sessions yesterday, causing market capitalisation to depreciate further by N12 billion.
At the close of transaction yesterday at the Nigerian Exchange Limited (NGX), the market capitalisation of listed equities declined by 0.06 per cent to N19.928 trillion from N19.940 trillion reported the previous day.
The All-Share Index (ASI) also depreciated by 23.13 basis points to 38233.68 points from 38256.76 points recorded on Tuesday.
Analysts at Afrinvest Limited said: “We expect the market to remain bearish in the next trading session due to the absence of a positive catalyst.” x
However, market sentiment, as measured by market breadth, was positive as 20 stocks appreciated in price while 14 others constituted the losers chart.
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Published 14 April 2021
The Nigerian Economic Summit Group has announced the appointment of eight new members into its board of directors.
In a blog post, NESG noted that the appointments were made at its 2021 Annual General Meeting held on Tuesday.
The group listed the newly appointed members to be Managing Partner, Sahel Consulting Agriculture & Nutrition Ltd and Founder, Leap Africa, Ndidi Nwuneli; Group Chief Executive Officer, MRS Holdings Ltd, Amina Maina; and CEO, Total E & P Limited, Mike Sangster.
Other appointed board members are CEO, Flour Mills Nigeria Plc, Omoboyede Olusanya, MD/CEO, Nestlé Nigeria Plc, Wassim El-Husseini; CEO, MTN Nigeria, Karl Toriola; Managing Partner, Agon Continental Ltd, Nnanna Ude, and Managing Partner, Wizer Group, Lanre Akinbo.
Market data for the week ended 9th April 2021 revealed that the Nigerian Equity space closed on a negative note, as the All-Share Index and the market capitalization depreciated by -0.66%, to close the week lower at 38,866.39 and N20.335 trillion respectively.
This bearish move has been linked to the conclusion of an impressive annual reporting season, as this leaves few incentives to bet on slightly higher returns from equities, with the rising yields in the fixed-income market.
Some industrial, mining, and consumer goods stocks delivered decent returns during the week
Despite the prevailing bearishness in the market which impacted the performance of some key consumer and industrial good stocks on NSE last week, shares of the following industrial, mining, and consumer goods companies delivered decent returns for their holders during the week.
Market data for the week ended 9th April 2021 revealed that the Nigerian Equity space closed on a negative note, as the All-Share Index and the market capitalization depreciated by -0.66%, to close the week lower at 38,866.39 and N20.335 trillion respectively.
This bearish move has been linked to the conclusion of an impressive annual reporting season, as this leaves few incentives to bet on slightly higher returns from equities, with the rising yields in the fixed-income market.
Some industrial, mining, and consumer goods stocks delivered decent returns during the week
Despite the prevailing bearishness in the market which impacted the performance of some key consumer and industrial good stocks on NSE last week, shares of the following industrial, mining, and consumer goods companies delivered decent returns for their holders during the week.