Nigerian Stock Exchange Reveals Results Of Biannual Review Of Market Indices

The Nigerian Stock Exchange (NSE) has announced the results of the biannual review for The NSE 30, NSE Lotus Islamic, NSE Pension and the five Sectoral Indices of The Exchange - NSE Banking, NSE Insurance, NSE Industrial and NSE Oil & Gas. The composition of these indices after the review will be effective on Monday July 2, 2018.

Below are the incoming and exiting companies in the various indices. 

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 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 Index is comprise of the top fifteen most capitalized and liquid companies in the sector. The Banking and Industrial Goods Index is comprised of the top ten most capitalized and liquid companies in the sector, while the Oil & Gas Index is made up of the top seven most capitalized and liquid companies in the sector. . 

In July 2012, the Nigerian bourse launched The NSE Lotus Islamic Index (NSE LII) which consists of companies whose business practices are in conformity with Shari’ah Investment Principles, with the aim of increasing the breadth of the market and creating an important benchmark for investments as the alternative ethical and noninterest investment space widened. The companies that appear on the Islamic Index have been thoroughly screened by Lotus Capital Halal Investment, in accordance with a methodology approved by an internationally recognized Shari’ah Advisory Board comprising of renowned Islamic scholars. 

The price indices, which were developed using the market capitalization methodology, are reviewed and rebalanced on a bi-annual basis - on the first business day in January and in July.  

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