WorldStage Newsonline– Nigerian Exchange Limited (NGX) has announced the results of its full-year market index review for the indices – NGX 30; NGX Lotus Islamic; NGX Pension; NGX Pension Broad Index; Corporate Governance Index; Afrinvest Bank Value Index; Afrinvest Dividend Yield Index; Meristem Growth Index; Meristem Value Index; and the five Sectoral Indices of The Exchange – NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil & Gas.
According to a statement, the review has led to the entry and exit of some companies from several indices which will take effect at the opening of the market on Thursday, 2 January 2025.
The new shape of the indices with the incoming and exiting companies in the various indices showed that NGX 30 Index has Conoil Plc, International Breweries Plc, Oando Plc, Transcorp Power Plc as incoming. Those exiting are Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nig. Plc.
NGX Consumer Goods Index with Golden Guinea Breweries Plc incoming and Flour Mills Nig. Plc exiting.
NGX Banking Index has Wema Bank Plc as incoming while Sterling Holding Company Plc exiting.
NGX Insurance Index has Guinea Insurance Plc, International Energy Insurance Plc as incoming with exiting being LASACO Assurance Plc and Mutual Benefits Assurance Plc.
NGX Industrial Index recorded to change.
NGX Oil & Gas Index has Aradel Holdings Plc, MRS Plc and Oando Plc as incoming with exiting being Japaul Oil and Services
NGX Pension Index has Aradel Holdings Plc, Transcorp Power Plc as incoming with exiting being Flour Mills Nig. Plc and Cadbury Nigeria Plc
NGX Lotus Islamic Index has Aradel Holdings Plc as incoming and exiting being Dangote Sugar Refinery Plc
Corporate Governance Index recorded no change.
NGX Pension Broad Index has Aradel Holdings Plc as incoming and exiting as Flour Mills Nig. Plc
Afrinvest Bank Value Index recorded no change while Afrinvest Div Yield Index has Red Star Express Plc as incoming with exiting being FCMB Group Plc and Dangote Cement Plc.
Meristem Growth Index has FCMB Group Plc as with exiting being Access Bank Plc and Zenith Bank Plc.
Meristem Value Index has Access Bank Plc, Dangote Sugar Refinery Plc, and Zenith Bank Plc as incoming with exiting being AIICO Insurance Plc, Nigerian Brew. Plc, FCMB Group Plc, and Flour Mills Nig. Plc.
“Designed using the market capitalization methodology, the indices are rebalanced semi-annually on the first business day in January and July respectively,” the statement said.
“The Exchange has also launched the NGX Equity-Based Commodity Index, a broad market commodity index that captures and tracks the collective movements of companies with primary operations in energy, agriculture, mining, metals, and natural resources. Through the Equity-Based Commodity Index, investors are provided with potential exposure to the essential raw materials and natural resources that drive global economic activity.
“The starting constituents of the index are Geregu Power Plc, Multiverse Mining and Exploration Plc, Okomu Oil Palm Plc, Presco Plc, Seplat Energy Plc, Transcorp Power Plc, and Aradel Holdings Plc. The index’s starting value is set at 1,000.
“Jude Chiemeka (CEO, NGX) reiterates that the Exchange continues to blaze the path to becoming Africa’s foremost Securities Exchange with innovation and product developments that deepen the market and boost liquidity, thus connecting Nigeria, Africa, and the world.
“Abimbola Babalola (Head, Trading & Products) emphasized that NGX indices are developed, managed, and rebalanced semi-annually to allow investors to track market movements efficiently and manage their investment portfolios properly.
“The compiler of the indices maintains the right to modify the circulated selection above in connection with any mergers, takeovers, suspension, or resumption of trading or any other company structure changes during the period before the effective date of the annual review.”
