NSE Reviews Sectoral Indices, As 3 Firms Joins NSE 30

As part of end of year activities, the Index Committee of the Nigerian Stock Exchange (NSE) has undertaken a review of the NSE indices. The NSE in a release to media announced the expected review of the NSE 30, and the six sectoral indices of the Exchange, which are NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Industrial, NSE Oil & Gas and the NSE Lotus Islamic Indices.The review, which became operational, January 3, 2017, saw the entrance of two companies quoted in the agriculture sector, Okomu Oil palm and Presco. Also included was Conoil Plc, a downstream petroleum marketing company, while Diamond Bank, Fidelity Bank and Sterling Bank will leave the category.The NSE also announced changes to its Insurance Index, as Equity Assurance Plc, Linkage Assurance Plc and Universal Assurance Plc were listed as companies to exit the NSE Insurance Index while incoming companies are Prestige Assurance Plc, Sovereign Trust Insurance Plc and Unity Kapital Assurance Plc.Leading the category of the NSE Pension Index are Beta Glass Co. Plc, International Breweries Plc and Skye Bank Plc for United Capital Plc, Ecobank Transnational and Dangote Flour Plc as new entrants.The NSEs report on the review of the index composition, noted that there were no changes to the NSE Consumer Goods Index, the NSE Banking Index, the NSE Industrial Index and the NSE Oil and Gas Index.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 and developed the NSE Pension Index in 2013, with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors.
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