The Nigerian Stock Exchange (NSE), established in 1960, has about 300 listed companies (283 companies as at March 9, 2007) with all listings included in only one index, the Nigerian Stock Exchange All Shares Index. The goal of TBIA is to use twenty stocks to represent the market dynamics and simplify things for analysts, economists, policy makers, investors, among others.
Tekedia Broad Industrial Average (TBIA) is a stock market index created by Tekedia Intelligence, a division of Fasmicro. It is an index that shows how twenty large, publicly owned companies, based in Nigeria have traded during a standard trading session in the stock market. To emphasis that this index is not restricted to any particular industry such as technology, transportation or banking, we included the word “Broad”. The word, “industrial”, was used within the constructs of different markets.
For example, we have the banking industry, hotel and tourism industry, and so one with no implied connotation to the industrial era. We understand that many of the companies in the index are knowledge driven, yet, they operate in an industry. For more, click TBIA (pdf).