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Monday, January 2, 2018 /10:24 AM / NSE
The
Nigerian Stock Exchange (NSE or “The Exchange”) is pleased to announce the
review of the NSE-30, and the seven sectoral indices of the Exchange, which are
NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Industrial, NSE Oil &
Gas, NSE Pension and the NSE Lotus Islamic Indices.
The
composition of these indices is effective January 1, 2018 after the completion
of the year-end review and index rebalancing exercise which will see the entry
of some major companies and the exit of others from the various indices.
The
indices, which were developed using the market capitalization methodology, are
rebalanced on a biannual basis -on the first business day in January and in
July.
The
Stocks are selected based on market capitalization and liquidity. The liquidity
is based on the number of days the stock is traded during the preceding two
quarters. To be included in the index, the stock must have traded for at least
70 percent of the number of trading days in the preceding two quarters.
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 four
sectoral indices and one index in 2013, with a base value of 1,000 points,
designed to provide investable benchmarks to capture the performance of
specific sectors. The Insurance and Consumer Goods sector index, is comprised
of the 15 most capitalized and liquid companies; Banking and Industrial Goods
sector index, comprised of 10 most capitalized and liquid companies, while the
Oil & Gas sector index, is comprised the seven most capitalized and liquid
companies.
The
compiler of the indices maintains the right to modify the circulated selection
above in connection with any mergers, takeovers, suspension or resumption of
trading or any other company structure changes during the period before the
effective date of the annual review.
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