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NSE Lotus Islamic Index

The NSE-Lotus Islamic Index (NSE-LII) is an equity index that tracks the performance of selected Shari’ah compliant and high-capped equities listed on the floor of the Nigerian Stock Exchange. The NSE-LII is composed of 15 screened equities with weights applied to component stocks and sub-sectors. The NSE-LII is the first index created to track the performance of Shari’ah compliant equities on the Nigerian Stock Exchange

Index Brief  
Origination Date 2009
Launch Date 2012
Index Type Adjusted Market Capitalization Weighted Index
Components 15 screened equities with weights applied to component stocks and sub-sectors. Each sub-sector weight is capped at 40% while the weight of each component stock is capped at 30%.
Eligibility Criteria Stocks must meet qualitative and quantitative criteria and certified by renowned Islamic Scholars
Qualitative Screening Excludes companies that deal in alcohol, entertainment, arms and interest based financial services
Quantitative Screening Further excludes companies with unacceptable levels of debt, interest income and cash flow. Market cap and liquidity of stocks are also considered.
Sector Exposure Agriculture, Construction, Industrial Goods, Consumer Goods and conglomerates
BAse Value 1,000
Re-balancing Bi-annually (June and December)
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