By Peter Egwuatu

The Nigerian Stock Exchange (NSE), has announced the results of its annual full year market index review for major equities indices on the Exchange.

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The indices include: NSE 30, NSE Lotus Islamic, NSE Pension , Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index; and the five Sectoral  indices of the Exchange – NSE Banking, NSE Insurance, NSE Industrial, NSE Consumer Goods and NSE Oil & Gas.

The review has led to the entry and exit of major companies from several indices which will when the market opens today.

According to a statement from the Exchange yesterday, the incoming and exiting companies in the various indices are as follows:  for NSE 30 Index , the incoming companies include – CCNN Plc,  FCMB Plc and  MTN Nigeria Plc, while exiting companies include ; Forte Oil Plc,  Oando Plc and  PZ Industries Plc.

NSE Lotus Islamic Index: the incoming companies include MTN Nigeria Plc, and Forte Oil Plc while exiting companies are Glaxo Smithkline Plc, CAP Plc and Presco Plc.

NSE Pension Index: the incoming company is MTN Nigeria Plc while exiting companies is Glaxo Smithkline Plc.

Corporate Governance Index: the incoming company is MTN Nigeria Plc while none exited.

Meristem Growth Index: the incoming companies are Cadbury Nigeria Plc,  CAP Plc, Dangote Cement Plc,  ETI,  May & Baker, UAC-Properties, Wapic Insurance Plc and   Zenith Bank Plc while the companies that exited are  Access Bank Plc, Dangote Sugar and Flour Mills Plc

Meristem Value Index : the incoming companies are CCNN Plc, Conoil Plc, Custodian Insurance Plc,  Forte Oil Plc,   Glaxo Smithkline Plc, NAHCO Plc and NASCON.

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The Exchange explained that 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.

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