Forte Oil displaces Lafarge Wapco from NSE Islamic Index
The Nigerian Stock Exchange (NSE) yesterday announced the entry of Forte Oil to the NSE Islamic Index, displacing Lafarge Wapco. In the new index composition, Forte Oil replaces Lafarge Wapco in the NSE Lotus Islamic Index
The NSE had earlier released a review of the seven sectoral indices of the Exchange, stating the Lotus Islamic Index was “to be presented”
The Indices are NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Industrial, NSE Oil & Gas, NSE Pension and the NSE Lotus Islamic Indices.
These indices are normally reviewed bi-annually (June and December) except for NSE Pension index that is reviewed once in the year (December). The review process will see the entry of some major companies and the exit of others from the various indices.
The NSE also announced changes to its Insurance Index, as Equity Assurance Plc, Linkage Assurance Plc, and Universal Assurance Plc were listed as companies to exit the NSE Insurance Index while incoming companies are Prestige Assurance Plc, Sovereign Trust Insurance Plc and Unity Kapital Assurance Plc
Leaving the category of the NSE Pension Index are Beta Glass Co. Plc, International Breweries Plc and Skye Bank Plc for United Capital Plc, Ecobank Transnational and Dangote Flour Plc as new entrants.
The NSE’s report on the review of the index composition noted that there were no changes to the NSE Consumer Goods Index, the NSE Banking Index, the NSE Industrial Index and the NSE Oil and Gas Index.
