Nigerian Exchange Limited (NGX), the leading exchange in Africa’s largest economy, has revealed the outcomes of its half-year market index review.
The review encompasses several key indices including NGX 30, NGX Lotus Islamic, NGX Pension, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index, as well as the five Sectoral Indices of The Exchange – NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods, and NGX Oil & Gas.
Effective from the market opening on Monday, July 3, 2023, the review has resulted in the inclusion and exclusion of certain companies across various indices.
The following table highlights the incoming and exiting companies for each index:
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|NGX 30 Index||Geregu Power Plc, Sterling Financial Holding Plc, Custodian Investment Plc, Wema Bank Plc||–|
|NGX Consumer Goods Index||–||–|
|NGX Banking Index||–||Union Bank Nigeria Plc|
|NGX Insurance Index||International Energy Insurance Plc, Universal Insurance Plc||–|
|NGX Industrial Index||–||–|
|NGX Oil & Gas Index||–||–|
|NGX Pension Index||–||–|
|NGX Lotus Islamic Index||Nigerian Aviation Handling Company (NAHCO) Plc||–|
|Corporate Governance Index||–||–|
|Afrinvest Bank Value Index||–||–|
|Afrinvest Div Yield Index||SFS Real Estate Investment Trust, Tripple Gee and Company Plc, Red Star Express Plc, United Capital Plc||–|
|Meristem Growth Index||NASCON Allied Industries Plc, STANBIC IBTC Holdings Plc, TOTAL Energies Marketing Nigeria Plc||FBN Holdings Plc, Nigerian Breweries Plc|
|Meristem Value Index||Seplat Energy Plc, CONOIL Plc||–|
The NGX indices, designed with the market capitalization methodology, undergo semi-annual rebalancing on the first business day in January and July. These indices provide investors with an efficient means to track market movements and effectively manage their investment portfolios.
NGX remains at the forefront of Africa’s securities exchange, continuously driving innovation and product development. Its commitment to deepening the market and enhancing liquidity strengthens the connection between Nigeria, Africa, and the global financial landscape.