By Dipo Olowookere
Three stocks trading on the floor of the Nigerian Stock Exchange (NSE) have been added to the Frontier Markets Small Cap Indexes of the Morgan Stanley Capital International (MSCI).
The MSCI, in its Semi-Annual Index Review released on Monday, said it added three equities in the Nigeria Index and removed one.
The stocks added to the small cap indexes are United Bank for Africa (UBA) Plc, Access Bank Plc and Unilever Nigeria Plc. However, the only one removed from the index is Diamond Bank Plc, which merged with Access Bank in March 2019.
Business Post reports that UBA, Access Bank and Unilever Nigeria were removed from the MSCI Frontier Markets Indexes and pushed to the Frontier Markets Small Cap Indexes.
MSCI said “changes in constituents for the MSCI Frontier Markets Small Cap Indexes will take place as of the close of May 28, 2019.”
MSCI is a global provider of equity, fixed income, hedge fund stock market indexes, and multi-asset portfolio analysis tools.
The Semi-Annual Index Review included the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes, the MSCI Frontier Markets, and MSCI Frontier Markets Small Cap Indexes, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI Pan-Euro and MSCI Euro Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China A Indexes, MSCI China A Onshore Indexes and the MSCI China All Shares Indexes.
Adedapo Adesanya