NSE Publish Results Of Full Year Review Of Market Indices

The Nigerian Stock Exchange (NSE), the premier sustainable exchange servicing Africa’s largest economy, had declared 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.