THE Nigerian Stock Exchange (NSE) has come up with the half year reviews of sectoral indexes and some indices have seen the entry and exit of some stocks. Whenever such reviews are carried out, there will be removal and inclusion of listed stocks in sectoral indices reflecting whether or not they meet the listing conditions in such sectoral metrics.
“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”, the NSE stated in a notice to stakeholders.
Sectoral indices such as Consumer Good Index, Banking Index, Insurance Index, Oil & Gas Index, Pension Index, Afrinvest Banking Value Index, Afrinvest High Dividend Yield Index remained unchanged at half year.
But the NSE 30 Index witnessed some adjustments as Transcorp Nigeria exited this index and was replaced by Julius Berger Nigeria Plc. The NSE Industrial Index received Notore Chemical Industries as a replacement for Premier Paints Plc. Lafarge and CAP replaced 11 Plc (Mobil) and Nahco in NSE Lotus Islamic Index.
No stock exited the Corporate Governance Index which received Julius Berger, MTN Nigeria, NEM Insurance, NPF MfB, Royal Exchange and SUNU Assurances as new members.
BUA Cement, Custodia Insurance, Nahco and Wema Bank exited Meristem Growth Index and were replaced by GT Bank and Julius Berger.
Meristem Value Index received Dangote Sugar as a new member but saw the exit of Berger Paints, Dangote Cement, Eternal, ETI and Wapic Insurance Plc.
