London-based FTSE Russell, which produces and markets stock market indices globally, has included 6 Nigerian stocks among its list of 50 most liquid frontier market stocks, according to a market disclosure dated 4 September.
FTSE Frontier 50 Index, which monitors the performance of the 50 most liquid stocks from the 26 frontier markets covered by the organisation, admitted mega-cap Nigerian stocks including First HoldCo, Dangote Cement, MTN Nigeria, Aradel Holdings, Guaranty Trust Holding Company and Zenith Bank, the list seen by PREMIUM TIMES on Monday showed.
The equities opened the week on Monday with market values of ₦6.8 trillion, ₦17.4 trillion, ₦17.1 trillion, ₦6.5 trillion, ₦4.9 trillion and ₦5.3 trillion, respectively, according to market data.
Year-to-date yields on the stocks are 213 per cent, 69.8 per cent, 59.1 per cent, 122 per cent, 46.3 per cent, and 108 per cent, respectively, on the local bourse in Lagos.
Apart from liquidity, the index uses “FTSE’s country classification methodology, which assesses markets against size, basic governance and market infrastructure,” FTSE Russell stated in a factsheet on its website.
