Julius Berger replaces Transcorp in NSE-30 Index

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.

Guinness hits 52-week low amid notice on threats to Full Year profitability

By Iheanyi Nwachukwu • July 2, 2020

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.