News Column

Unity Displaces Wema Bank in New NSE Banking Index

June 18, 2014

Kayode Ogunwale

The Nigerian Stock Exchange (NSE) has announced the expected review, by end of June 2014, of the NSE 30, NSE 50 and the five sectoral Indices of the exchange; the NSE Banking, NSE Consumer Goods, NSE Oil & Gas, NSE Industrial, NSE Insurance and the NSE Lotus Islamic Indices.

Unity Bank and Sterling Bank may displace Wema Bank and Fidelity Bank from NSE Banking Index.

The composition of these indices after the review will be effective on July 1, 2014. With the NSE Index team having commenced work intensely, the review is set to witness the entry/re-entry of some major companies and the exit of others.

As the Index committee explained, the NSE-30, NSE-50 and NSE Industrial Indices are modified market capitalization index with the numbers of included stocks fixed at 30, 50 and 10, respectively.

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Source: AllAfrica

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