Consumer Goods sector jumps over 6% on strong individual stock gains, clears pull-back

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%.

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

Despite this setback, the index experienced a rebound, aided by a rise in heavyweight stocks during the week ending February 21, 2024.

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.

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.