Statistics of the Nigerian Exchange Limited (NGX) in January have revealed that Nestle Nigeria Plc, Unilever Nigeria Plc, Nigerian Breweries Plc, Stanbic IBTC Holdings Plc, and many others have experienced significant losses in the first month of 2022.
The Big Picture.
Intensive market analysis revealed that the value of one of Nigeria’s major companies, Nestle Nigeria Plc, dropped by N96.31 billion as its stock price fell in January. The implication means that for an N1 Million investment, the investor would suffer a 7.8% loss, N78,000.
Also, Nigerian Breweries dropped in value by N12.5billion following a 3.1 percent drop in share value. Other companies that were affected include Berger Paints Plc, University Press Plc, tix Plc, C&I Leasing Plc, UACN Plc and NEM Insurance Plc.
Analysts have attributed the decline to investors taking profits, not necessarily because of an activity going on in the companies.