NSE Industrial Index loses 1.03 index points in the second week of March

Deprecated: mb_convert_encoding(): Handling HTML entities via mbstring is deprecated; use htmlspecialchars, htmlentities, or mb_encode_numericentity/mb_decode_numericentity instead in /var/www/nairametrics/wp-content/themes/nairametrics/functions.php on line 104

The Nigerian Stock Exchange Industrial Index at the close of trading activities for the second week in the month of March, closed on a relatively bearish note.

At the close of trading activities on the Nigerian Stock Exchange on the 12th March 2021, the industrial index declined by 1.03 index points, to close at 1923.55 index points for the week.

When compared to the overall performance of the market, the NSE Industrial index fared better as it declined by –0.05%, while the NSE All-Share index and market capitalization depreciated by 1.74% to close the week at 38,648.48 and N20.221 trillion respectively.

READ: Nigerian Stock Exchange unveils e-filing portal

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, Lafarge Cement and others.
• The overall performance of the companies for the week was relatively bearish, as the index closed on a positive note with three losers relative to one gainer.
• CUTIX (8.84%) was the only gainer on the industrial index chart for the week, while MEYER (-18.00%) led the loser’s chart for the week, followed by BERGER (-7.63%) and WAPCO (-0.90%).

READ: Nigerian stocks end near stalemate, despite gains from Nestle, Airtel, Dangote

Losers

• MEYER down by –18.00% to close at N0.41
• BERGER down by –7.63% to close at N6.05
• WAPCO down by -0.90% to close at N22.00