The announcement came following the bi-annual review of the composition of indices conducted by the NSE
The results of the review indicated that that Diamond Bank Plc and Julius Berger will exit the NSE 30
The NSE announced the results of the biannual review for The NSE 30, NSE Lotus Islamic, NSE Pension and the five sectoral indices of The Exchange – NSE Banking, NSE Insurance, NSE Industrial and NSE Oil & Gas, making changes only to the NSE insurance and Oil&Gas indices.
As projected by the NSE previous week, entrants to the NSE insurance index effecrive July 2nd, 2018 are Consolidated Hallmark Insurance Plc, Sovereign Trust Insurance Plc, Veritas Kapital Assurance Plc and Regency Alliance Insurance Plc as Cornerstone Insurance Plc, STACO Insurance Plc, Standard Alliance Insurance Plc bow out of the list of NSE’s top 15 most capitalised and liquid insurance companies.
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On the other hand Oando Plc following it’s re-exit into the equities market following a technical suspension from the securities and exchange commission will join the NSEs seven most liquid and capitalised stock come July 2, as MRS Oil Nigeria exits the NSE Oil & Gas Index.
The price indices, developed using the market capitalization methodology, are reviewed and rebalanced on a bi-annual basis, which is on the first business day in January and in July
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