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 Wednesday, January 2, 2020.
Below are the incoming and exiting companies in the various indices:
Indices Title
|
Incoming
|
Exiting
|
NSE 30 Index
|
· CCNN Plc
· FCMB Plc
· MTN Nigeria Plc
|
· Forte Oil Plc
· Oando Plc
· PZ Industries Plc
|
NSE Consumer Goods Index
|
· None
|
· None
|
NSE Banking Index
|
· None
|
· None
|
NSE Insurance Index
|
· Cornerstone Insurance Plc
· Sunu Assurances Nigeria Plc
|
· Veritas Kapital Ass. Plc
· Continental Insurance Plc
|
NSE Industrial Index
|
· Premier Paints Plc
|
· Notore Chemical Ind. Plc.
|
NSE Oil & Gas Index
|
· None
|
· None
|
NSE Pension Index
|
· MTN Nigeria Plc,
|
· Glaxo Smithkline Plc
|
NSE Lotus Islamic Index
|
· MTN Nigeria Plc
· Forte Oil Plc
|
· Glaxo Smithkline Plc
· CAP Plc
· Presco Plc
|
Corporate Governance Index
|
· MTN Nigeria Plc
|
· None
|
Afrinvest Bank Value Index
|
· None
|
· None
|
Afrinvest Div Yield Index
|
· None
|
· None
|
Meristem Growth Index
|
· Cadbury Nigeria Plc
· CAP Plc
· Dangote Cement Plc
· ETI
· May & Baker
· UAC-Properties
· Wapic Insurance Plc
· Zenith Bank Plc
|
· Access Bank Plc
· Dangote Sugar
· Flour Mills Plc
|
Meristem Value Index
|
· CCNN Plc
· Conoil Plc
· Custodian Insurance Plc
· Forte Oil Plc
· Glaxo Smithkline Plc
· NAHCO Plc
· NASCON
|
· Dangote Cement Plc
· GT Bank Plc
· Wapic Insurance Plc
|
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 & Gas sector.
The Exchange in collaboration with issuers like Lotus Capital, Meristem Securities and Afrinvest have also published co-branded indices.
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