Conoil, Julius Berger likely to exit the NSE 30 index


The Nigerian Stock Exchange, NSE will be reviewing the NSE 30 index and six sectoral indices available on the bourse Africa’s largest economy.

The NSE has since issued the notice that will see the downgrade or removal of certain stocks from the NSE 30 index. Conoil PLC, a downstream oil and retail major and Julius Berger, a civil construction company are two of the prominent stocks that might be delisted from the index.

See below the full list:

Indices Title Likely Incoming Likely Exiting
NSE 30 Index Fidelity Bank Plc
Sterling Bank Plc
Diamond Bank Plc
Cadbury Nigeria Plc
FCMB Group Plc
Conoil Plc
Julius Berger Nig. Plc
7-Up Bottling Co. Plc
The Okomu Oil Palm Plc
NSE Lotus Islamic Index Total Nigeria Plc
Nigerian Aviation Handling Co. Plc
Forte Oil Plc
7&up Bottling Co. Plc
NSE Consumer Goods Index Nig. Enamelware Plc
Northern Nigeria Flour Mills
Union Dicon Salt Co. Plc
Vitafoam Nigeria Plc
Honeywell Flour Mills Plc
Dangote Flour Mills Plc
NSE Banking Index Skye Bank Plc
Unity Bank Bank Plc
Wema Bank Plc
Diamond Bank Plc
NSE Insurance Index Linkage Assurance Plc
Regency Alliance Insurance Plc
Consolidated Hallmark Insurance Plc
Universal Insurance Co. Plc
Equity Assurance Plc
Sovereign Trust Insurance Plc
Unity Kapital Assurance Plc
Mutual Alliance Insurance Plc
Staco Insurance Plc
Prestige Assurance Plc
NSE Oil & Gas Index Japaul Oil & Maritime Services Plc
Eterna Plc
MRS Oil Nigeria Plc
Conoil Plc
NSE Industrial Index Grief Nig. Plc
First Aluminium Nige Plc
African Paints Plc
Portland Paints & Products Nig. Plc
Paints & Coatings Plc
DN Meyer Plc

The NSE-30 and NSE Industrial Indices are modified market capitalization index with the numbers of included stocks fixed at 30 and 10, respectively. The Stocks are selected based on their market capitalization from the most liquid sectors. The liquidity is based on the number of times the stock is traded during the preceding two quarters. To be included, the stock must have traded for at least 70 percent of the number of times the market opened for business.

The Exchange is aware that the number of the stocks included in some of the indices may not be practically suitable for optimal portfolio diversification; however, the numbers would be reviewed as sector conditions change.

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 deve​loped 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. The sectoral indices comprise the top 15 most capitalized and liquid companies in the Insurance and Consumer Goods sectors, top 10 most capitalized and liquid companies in the Banking and Industrial Goods sector and the top seven most capitalized and liquid companies in the Oil & Gas sector.

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

Leave a Reply

Your email address will not be published.