The Nigerian Stock Exchange is set to officially change the composition of its indexes on January 2nd 2013. According to the exchange the NSE 30 may see the likes of Transcorp Plc, Dangote Flour Mills and Oando exiting the exchange while the likes of GSK, 7-Up, Julius Berger will be coming in. Below is an excerpt of the statement by the exchange;
“The Committee has recommended that the number of stocks comprising the?NSE Consumer Goods Index be increased from 10 to 15;?NSE Insurance Index be increased from 10 to 15 while the?NSE Oil/Gas Index will have? 7 stocks as against the current 5. The NSE 30 Index and the NSE Banking Index retain their 30 stocks and 10 stocks respectively. As the Committee explained, this is to allow for adequate portfolio diversification.
The breakdown of the likely composition of the indices shows that the NSE 30 Index may have Glaxo Smithkline Consumer Plc; Union Bank of Nigeria Plc; International Breweries Plc; Julius Berger Nigeria Plc; 7-UP Bottling Co. Plc and Sterling Bank Plc as likely incoming stocks while Law Union & Rock Ins. Plc; Transnational Corporation of Nig. Plc; National Salt Co. of Nig. Plc; Oando Plc; Dangote Flour Mills Plc and Mobil Oil Nigeria Plc are listed as likely exiting stocks.
Under the?NSE Consumer Goods Index,?the following stocks are listed as likely incoming:? International Breweries Plc; National salt; Honeywell Flour Mills Plc; Vitafoam Plc; UTC Plc; Multi-Trex Integrated Foods Plc and Northern Nig. Flour Mills Plc while 7-Up Bottling Plc; Cadbury Nigeria Plc; Dangote Flour Mills; Unilever Nigeria; PZ Cussons Nigeria Plc; Dangote Sugar Refinery Plc and Flour Mills of Nigeria Plc are listed as likely exiting.
The NSE Banking Index has Union Bank; Diamond Bank; Sterling Bank Plc; Unity Bank Plc and
Wema Bank Plc as likely incoming while FBNH; Stanbic Holdco; Fidelity Bank Plc; First City Monument Bank Plc and Skye Bank Plc are listed as likely exiting.?
Niger Insurance Plc; Cornerstone Insurance Plc; Standard Alliance Ins. Plc; Lasaco Assurance Plc;
Sovereign Trust Insurance Plc; Linkage Assurance Plc and Prestige Assurance Plc are in the stocks listed as likely incoming stocks for The Insurance Index while Unity Kapital Assurance Plc;
Mutual Benefits Assurance Plc.; Goldlink Insurance Plc; Aiico Insurance Plc; Wapic Insurance Plc; Continental Reinsurance Plc and Mutual Benefits Assurance Plc are listed as likely exiting stocks.?
The NSE Oil/Gas Index has MRS Oil Nigeria Plc; Japaul Oil & Maritime Services Plc; Eterna Plc;
Beco Petroleum Products Plc listed as likely incoming stocks while Forte Oil Plc; Conoil Plc;
Mobil Nigeria and Oando Plc are listed as likely exiting stocks. “
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The NSE indexes are reviewed twice yearly in June and December.
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