Industrial index down by 2.07%, as shares of Lafarge, Dangote, others decline on NSE

The overall performance of the companies was bearish as the index closed on a negative note with five losers.

The Nigerian Stock Exchange Industrial Index at the close of trading activities for the fifth week of 2021, depreciated by 2.07%, to close lower at 2,038.22 index points.

By Omokolade Ajayi

It is important to note that the negative performance of the index was driven largely by the fall in the share price of WAPCO, BERGER and DANGCEM, during the week under review.

Findings revealed that the NSE Industrial Index as of the close of trading activities on Friday 5th February 2021, stood at 2,038.22 index points, this is 43.15 index points lower than a week ago, when it closed at 2,081.37 index points.

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 Chemical Allied Products.
• The overall performance of the companies was bearish as the index closed on a negative note with five losers, while the other five companies closed flat. WAPCO (-11.17%) led the loser’s chart for the week, followed closely by PORTPAINT (-10.00%) and BERGER PAINTS (-9.94%).

Top losers

• WAPCO down by 11.17% to close at N26.65
• PORTPAINT down by 10.00% to close at N3.15
• BERGER down by 9.94% to close at N7.25
• DANGCEM down by 2.54% to close at N230
• CUTIX down by 2.22%% to close at N2.20