Julius Berger Nigeria Plc has replaced Transnational Corporation of Nigeria Plc in NSE 30 index following the recent review of market indices by the Nigerian Stock Exchange (NSE). NSE 30 index tracks the top 30 companies in terms of market capitalisation and liquidity.
The Nigerian Stock Exchange reviewed 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 indices were developed to allow investors to follow market movements and properly manage investment portfolios. Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.
The recent review, which led to the entry and exit of some companies from some indices took effect on Wednesday, July 1, 2020. Though there are no changes in other notable indices, but the NSE Industrial Index saw new entrant like Notore Chemical Industrial Plc replace Premier Paints Plc.
NSE Lotus Islamic Index has new entrants like Lafarge Africa Plc and Chemical and Allied Product Plc replace 11 Plc (Mobil) and Nigerian Aviation Handling Company Plc.
Companies like Julius Berger Nigeria Plc, MTN Nigeria Plc, NEM Insurance Plc, NPF Microfinance Bank Plc, Royal Exchange Nigeria Plc and Sunu Assurances Nigeria Plc are the newest additions into the NSE Corporate Governance Index.
GTBank Plc and Julius Berger Plc have replaced BUA Cement Plc, Custodian Insurance Plc, Nahco Plc, and Wema Bank Plc that were exited from the Meristem Growth Index while Dangote Sugar Refinery Plc has replaced Berger Paints Plc, Dangote Cement Plc, Eterna Oil Plc, ETI Plc and Wapic Insurance Plc exited from Meristem Value Index.
