L–R: Olumide Bolumole, Head, Listings Business Division, The Nigerian Stock Exchange (NSE); Mr. Anthony Asonye, Development Bank of Nigeria; Bridget Bayo-Ajayi, Africa Prudential Plc; Dr. Babatunde Obriman, Fintech Association of Nigeria; Yinka Edu, Udo Udoma & Belo Osagie; Oscar Onyema, Chief Executive Officer, NSE; Linda Quaynor, Deloitte & Touche; Chris Pemu, Nairametrics; Ebele Enedah, Punika Attorneys & Solicitors and Tony Ibeziako, Head, Primary Markets, NSE during the Launch of NSE Growth Board in Lagos on Wednesday.

Adebayo Obajemu

The Nigerian Stock Exchange has announced the results of its half year market index review for its various indices.

The review has led to the entry and exit of some companies from some indices which took effect from Wednesday, July 1, 2020.

Julius Berger plc was used to replace Transnational Corporation Nigeria Plc (Transcorp) in the NSE 30 Index while Notore Chemical Ind. Plc Replaced Premier Paints Plc in the NSE Industrial Index.

For the NSE Lotus Islamic Index, Lafarge Africa Plc and Chemical And Allied Product Plc are coming into the place of 11 Plc (Mobil) and Nigerian Aviation Handling Company Plc.

Meristem Growth Index witnessed the exit of BUA Cement Plc, Custodian Insurance Plc, NAHCO Plc and Wema Bank Plc while GT Bank Plc and Julius Berger Plc are being added.

Berger Paints Plc Dangote Cement Plc, Eterna Oil Plc, ETI Plc and Wapic Insurance PLC are being substituted for Dangote Sugar Refinery Plc in the Mersitem value index.

Corporate Governance Index only witnessed new entrants VIZ

Julius Berger Nigeria Plc
MTN Nigeria Plc
NEM Insurance Plc
NPF Microfinance Bank Plc
Royal Exchange Nigeria Plc
Sunu Assurances Nig. Plc

The indices were developed to allow investors to follow market movements and properly manage investment portfolios. Designed using the market capitalization methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July