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Wednesday, June
30, 2020 / 8:53 AM / By NSE / Header Image Credit: Getty Images
The Nigerian Stock Exchange (NSE), the premier sustainable exchange
servicing Africa's largest economy, has announced the results of its
Half-Year market index review for the following indices: the NSE 30
Index, NSE Lotus Islamic Index, NSE Pension Index, 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 some companies from some
indices which will take effect when the market opens on Wednesday, July 1,
2020.
Below are the incoming and exiting companies in the various indices:
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 Lotus Capital Limited, Meristem
Securities Limited and Afrinvest Securities Limited have also published
co-branded indices.
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