The Effect of Firm’s Market Share Performance on Inclusion in NSE 20 Share Index: A Case Study of Mumias Sugar Company Ltd

Martin O. Opiyo, Alex Kubasu, Simon M. Kamau


The aim of the study was to evaluate the effect of firm’s share performance on inclusion in NSE 20 share index. The study adopted an event study research design. Purposive sampling method was used to select Mumias Sugar Company Ltd for analysis from the target population of NSE 20 share index constituent companies. The study found out that stocks in the NSE markets do not exhibit significant positive abnormal returns but exhibit significance change in trading volume following inclusion into index.

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ISSN (Paper)2222-1697 ISSN (Online)2222-2847

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