NSE INDICES BASKET TO CHANGE

Most likely early 2016, the changes you may notice in almost all the indices on the  Nigerian stock market currently published each dealing day by the Exchange will not be solely due to changing market fortunes. It could be because the baskets for the indices have been changed.
According to a release by the Exchange the baskets of the indices are subjected to annual review and the 2015 one is almost concluded.
According to the release; pencilled down to be removed from the NSE 30 index are Cadbury Nigeria; First City Group; Mobil Oil and UACN. They may be replaced by Presco PLC; Champion Breweries; Total Nigeria and Glaxo SmithKline Consumer.
Also, likely to exit from the consumer goods index basket are Vitafoam; Tiger Branded Consumer Goods; and Honeywell Flour mills.They may be replaced by Vono products; Northern Nigeria Flour Mills; DN Tyre & Rubber.
The banking index basket may witness exit of Wema bank and Fidelity bank and entry of Skye bank and Unity bank.
There may also be only two changes in the Oil & Gas index basket with Japaul Oil & Maritime Services and Eternal oil likely replacing MRS oil and Con oil.
The basket of insurance and industrial indices may also be affected. In the case of the industrial index basket, BOC Gases; Grief Nigeria; and First Aluminium may replace Avon Crown caps; Paints & Coatings and Cutix PLC.
As for the insurance index basket Consolidated; Law Union& Rock; Staco and Regency Alliance may replace Sovereign Trust; Prestige; NEM and LASACO.
Finally, the basket of pensions index may see entry of Cadbury Nigeria; Glaxo SmithKline Consumer; Julius Berger; Seplat Petroleum and Beta Glass and exit of Ecobank; Con oil; Honeywell Flour Mills; NASCON; Skye PLC and UAC Property Development PLC.
The baskets of premium index; AseM index and Main Board index may not change.

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