Nigerian Exchange Limited (NGX) has announced the results of its full-year market index review for the following 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.
The review has led to the entry and exit of some companies from several indices which took effect at the opening of the market on Thursday, 2 January 2025. Below are the incoming and exiting companies in the various indices:
| Indices Title | Incoming | Exiting |
| NGX 30 Index | Conoil Plc International Breweries Plc Oando Plc Transcorp Power Plc | Guinness Nigeria PlcSterling Holding Company Plc.Total Nigeria Plc. Flour Mills Nig. Plc |
| NGX Consumer Goods Index | Golden Guinea Breweries Plc | Flour Mills Nig. Plc |
| NGX Banking Index | Wema Bank Plc | Sterling Holding Company Plc. |
| NGX Insurance Index | Guinea Insurance Plc. International Energy Insurance Plc | LASACO Assurance Plc. Mutual Benefits Assurance Plc. |
| NGX Industrial Index | None | None |
| NGX Oil & Gas Index | Aradel Holdings Plc MRS Plc Oando Plc | Japaul Oil and Services |
| NGX Pension Index | Aradel Holdings Plc Transcorp Power Plc | Flour Mills Nig. Plc Cadbury Nigeria Plc |
| NGX Lotus Islamic Index | Aradel Holdings Plc | Dangote Sugar Refinery Plc |
| Corporate Governance Index | None | None |
| NGX Pension Broad Index | Aradel Holdings Plc | Flour Mills Nig. Plc |
| Afrinvest Bank Value Index | None | None |
| Afrinvest Div Yield Index | Red Star Express Plc | FCMB Group Plc Dangote Cement Plc |
| Meristem Growth Index | FCMB Group Plc. | Access Bank Plc Zenith Bank Plc |
| Meristem Value Index | Access Bank Plc Dangote Sugar Refinery Plc Zenith Bank Plc | AIICO Insurance Plc Nigerian Brew. Plc. FCMB Group Plc. Flour Mills Nig. Plc |
Designed using the market capitalisation methodology, the indices are rebalanced semi-annually on the first business day in January and July respectively.
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) emphasised that NGX indices are developed, managed, and rebalanced semi-annually to allow investors to track market movements efficiently and manage their investment portfolios properly.
NGX sated that, “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.”
