The Nigerian Stock Exchange (NSE), the premier sustainable exchange servicing Africa’s largest economy, has announced the results of its annual full year market index review for the following indices – the NSE 30, NSE Lotus Islamic, NSE Pension, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index; and the five Sectoral Indices of The Exchange – NSE Banking, NSE Insurance, NSE Industrial, NSE Consumer Goods and NSE Oil & Gas.
The review has led to the entry and exit of major companies from several indices which will take effect when the market opens on Monday, January 4, 2021.
The incoming and exiting companies in the various indices include: for NSE 30 Index, Transnational Corporation of Nigeria Plc coming for Julius Berger Nig. Plc; for NSE Insurance Index- Veritas Kapital Ass. Plc and African Alliance Insurance Plc coming for Niger Insurance Plc.
For NSE Oil & Gas Index we have Eterna Plc coming for MRS Oil Nigeria Plc; for NSE Lotus Islamic Index we have PZ Cussons Nigeria Plc coming in
For the Afrinvest Div Yield Index we have Dangote Sugar Plc, FCMB Group Plc, United Capital Plc, Africa Prudential Plc, Aiico Insurance Plc exiting
For Meristem Growth Index we have Access Bank Plc, Cadbury Nigeria Plc, Guaranty Trust Bank Plc, Julius Berger Nig. Plc coming in with BUA Cement Plc, Glaxo Smithkline Consumer Nig. Plc, Okomu Oil Plc and Wema Bank Plc exiting.
For Meristem Value Index we have Dangote Sugar Plc and Total Plc coming in and Cadbury Nigeria Plc, Dangote Cement Plc, Fidelity Bank Plc and UACN Property Development Company Plc exiting.
The indices were developed to allow investors to follow market movements and properly manage investment portfolios. Designed using the market capitalization methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.
The Nigerian bourse began publishing the NSE 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NSE developed five sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors. The sectoral indices comprise the top fifteen most capitalized and liquid companies in the Insurance and Consumer Goods sectors; the top ten most capitalized and liquid companies in the Banking and Industrial Goods sector; and the top seven most capitalized and liquid companies in the Oil […]