The Nairobi Securities Exchange (NSE) board on Tuesday reviewed lists of floated companies appearing on its NSE-20 and 25-Share indices, for the first time excluding the little-traded agriculture sector.
The bourse said the move was aimed at reflecting the accurate market performance.
Sasini Ltd, CIC Insurance Group Ltd and Stanbic Holdings Plc have been dropped from the NSE 20-Share index and replaced by the more liquid Kenya-Re, NIC Group Plc and Nairobi Securities Exchange Plc.
Trade activity
The board said, the NSE 20-Share Index new entrants were measured on their trading activity, market capitalisation, shares traded, deals/liquidity and turnover during the period under review, weighed on the ratio of 4:3:2:1 respectively.
The NSE 20-Share Index is a price-weight index calculated as a mean of the top 20 best-performing counters.
