The Nigerian Stock Exchange (NSE) has explained that the delay in the release of the daily transactions details on Monday, November 26 and Tuesday, November 27, 2012, was necessitated by the changes required to achieve the re-basing of five indices. The changes were successfully completed on Tuesday 27thNovember 2012.
The affected indices are: The Consumer Goods, NSE 30, Banking, The Oil and Gas and The Insurance index.
Head, Market Operations of The Exchange, Mr Ikponmwosa Obaseki, confirmed that the Exchange's trading system maintained 100 percent availability during the period and traders' experienced no issues during these trading days as speculated in some quarters. He explained that Index updates were post-trading activities, carried out after trading hours but within a rather short time window.
It would be recalled that the Nigerian bourse began publishing The Bloomberg NSE 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NSE developed four other sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors.
The revised Index Values have been uploaded on the NSE website, and the next rebalancing of the Indices, an exercise which The Exchange undertakes in collaboration with global financial data giant, Bloomberg Inc., is set to take place at the end of the year.
