Unity Bank, Seplat, Sterling Bank, Others To Join NSE 30

Unity Bank, Seplat Petroleum, Sterling Bank are set to join the NSE 30 as the Nigerian Stock Exchange (NSE) is on the verge of completing the year end review of it sectoral indices.

The review will witness the entry of some major companies and exit of others in NSE 30, NSE 50 and the five Sectoral Indices of the Exchange, which are NSE Banking, NSE Consumer Goods, the NSE Oil & Gas, NSE Industrial and NSE Insurance.

The composition of these indices after the review will be effective on January 1, 2015.

In the NSE 30 index, the likely incoming stocks are Seven Up Bottling Company, Seplat Petroleum, Unity Bank, Sterling Bank, and Mobil Oil Nigeria while the outgoing stocks are Total Nigeria, GlaxoSmithKline Consumer, Fidelity Bank, Ashaka Cement, and FCMB.

Seplat Petroleum, Beta Glass Company, Caverton Offshore Support Group, Ikeja Hotels are likely to join the NSE 50 index while WAPIC Insurance, Continental Reinsurance, MRS Oil Nigeria, Cement Company of Nigeria plc are exiting the index.

For the NSE Consumer Goods Index, incoming stocks are, DN Tyre & Rubber plc, Vono Products, Union Dicon Salt, and Northern Nigeria Flour Mills while Vitafoam Nigeria, Champion Breweries, National Salt Company Nigeria, and Dangote Flour Mills are exiting the index.

The NSE Banking Index will witness entry of Unity Bank, and Wema Bank while Skye Bank and Fidelity Bank exit.

The Law Union & Rock Insurance, Prestige Assurance, Linkage Assurance and Guinea Insurance are the likely entrants to the NSE Insurance Index; while Unity Kapital Assurance, Universal Insurance, Staco Insurance and Equity Assurance exit.

The NSE Oil & Gas Index will record new entrants like Seplat Petroleum, Japaul Oil, and Beco Petroleum Products, while MRS Oil Nigeria, Eterna, and Conoil exit.


Source : Leadership

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