At the end of January 2022, the Nigerian Exchange Limited (NGX) ended the month on a positive note amidst buy-interests and sell-pressures as the bulls dominated proceedings to suppress sell-pressures in the market.
According to data from the Exchange, the ASI (All share Market Index) appreciated by 9.15% to close the month of January at 46,624.67 points from 42,716.44 points at the end of December and the Market cap increased by N3.09 trillion during the month.
Month-on-month, Academy Press Plc led 63 advancers surpassing 30 losers led by SUNU Assurance Plc, taking the market breadth to 2.10x and reflecting a bullish market. Consumer Goods Performance
However, the Consumer Goods Index (CGI) depreciated by 2.48% during the period under review, from 589.23 points to 574.64 points. This decline, despite the positive performance of the broad market, can be attributed to the depreciation in the share price of Nestle Plc, which is a company worth over a trillion. This means an uptick or a slight decline in the share price of the company can largely affect the index movement.
Focusing on the performance of stocks under the Consumer goods sector, we see that out of the 19 companies under the CGI, seven (7) increased in share price while five (5) declined and 7 remained unchanged.
We place focus on the best 5 performing consumer goods stocks in the month under review. These stocks were selected based on their price-performance from month-to-date and are represented by the percentage gained. Guinness Nig Plc – 24.49%
The shares of Guinness Plc, the third most capitalized brewery on the exchange, gained 24.49% in price in the period under review, from N39.00 to N48.55. The company enjoyed buy-interests which drove up the market capitalization by N20.92 billion to stand at N106.34 billion.
Recently, the company posted its Q2 Unaudited Financial Statement, revealing a 50.83% growth in revenue from N72.35 billion to N109.12 billion in the current period.
The breweries company reported a profit after tax of N8.82 billion, reflecting a growth of 2,878.91% from a loss of N317.42 million in the corresponding period of 2020.
The shares of Guinness Nig Plc currently trade at N48.55. International Breweries Plc – 15.15%
International Breweries Plc share price enjoyed investors positive sentiment as it appreciated by 15.15% during the period under review, from N4.95 to N5.77 at the end of January. The brewery is the second most capitalized after Nigerian Breweries, […]