November 25, 2012/ NSE
The Nigerian Stock Exchange (NSE) updated the base value of the five Bloomberg NSE indices on November 25, 2012. The indices are: The Consumer Goods, NSE 30, Banking, The Oil and Gas and The Insurance index. The revised base values of the indices were applied only recently, rather than the scheduled periods due to a process glitch.
The Head of Market Operations at The NSE, Mr. Ikponmwosa Obaseki said that a revised process and appropriate checks are now in place to avoid a recurrence.
Obaseki also made it clear that the revision has no effect on the All Share Index of the Nigerian Stock Exchange which mirrors the aggregate change in value of all stocks listed on The Exchange.
The Nigerian bourse began publishing The Bloomberg NSE 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NSE developed four other sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors.
While the revised Index Values have been uploaded on the NSE website, the next rebalancing of the Indices, an exercise which The Exchange undertakes in collaboration with global financial data giant, Bloomberg Inc., is set to take place at the end of the year.
Dante Ibidapo Martins
The Nigerian Stock Exchange
Stock Exchange House | 2-4 Customs Street | Lagos| Nigeria
Tel: +234-1-4489372 | Mobile: +234 (0) 703 249 8803
Dante Ibidapo MartinsHead | Corporate Communications