The Nigerian Stock Exchange Reviews its Indices

The Nigerian Stock Exchange has announce the 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.

These indices are normally reviewed bi-annually (June and December) except for NSE Pension index that is reviewed once in the year (December). Below are the incoming and exiting companies in the various indices.​

​Indices	Incoming	Exiting
​NSE 30 Index	​Fidelity Bank Plc	​Conoil Plc
​NSE Lotus Islamic Index	​Total Nigeria Plc	​Forte Oil Plc
​NSE Consumer Goods Index	No Change	No Change
​NSE Banking Index	No Change	No Change
​NSE Insurance Index	​Linkage Assurance Plc Regency Alliance Insurance Plc Universal Insurance Co. Plc​	​Sovereign Trust Insurance Plc Unity Kapital Assurance Plc Mutual Alliance Insurance Plc
​NSE Oil & Gas Index	No Change	​No Change
​NSE Industrial Index	First Aluminium Nige Plc	Paints & Coatings Manufacturers 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 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.