The Nigerian Exchange Limited (NGX) has announced updates to its indices following the completion of its full-year market review. These changes, which reflect shifts in market dynamics, took effect at the start of trading on Thursday, 2 January 2025, and include company additions and removals across several indices.
NGX, in a report on its website, disclosed that the review covered major indices such as the NGX 30, NGX Lotus Islamic, NGX Pension, NGX Pension Broad Index, Corporate Governance Index, Afrinvest Bank Value Index, and Afrinvest Dividend Yield Index.
Sector-focused indices like NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods, and NGX Oil and Gas were also rebalanced to ensure they remain representative of market trends.
The NGX 30 Index, which tracks the performance of 30 leading companies, saw the addition of Conoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc, replacing Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nigeria Plc.
The Consumer Goods Index welcomed Golden Guinea Breweries Plc, with Flour Mills Nigeria Plc stepping down.
In the Banking Index, Wema Bank Plc made an entry, while Sterling Holding Company Plc exited.
The Insurance Index introduced Guinea Insurance Plc and International Energy Insurance Plc, replacing LASACO Assurance Plc and Mutual Benefits Assurance Plc.
Energy companies also saw significant movements. The Oil and Gas Index now includes Aradel Holdings Plc, MRS Plc, and Oando Plc, while Japaul Oil and Services exited.
For the Pension and Pension Broad Indices, Aradel Holdings Plc and Transcorp Power Plc joined, with Flour Mills Nigeria Plc and Cadbury Nigeria Plc making way.
The Lotus Islamic Index, which focuses on Sharia-compliant investments, recorded the entry of Aradel Holdings Plc, while Dangote Sugar Refinery Plc exited.
In the Afrinvest Dividend Yield Index, Red Star Express Plc joined the list, replacing FCMB Group Plc and Dangote Cement Plc.
The Meristem Growth Index saw FCMB Group Plc added, while Access Bank Plc and Zenith Bank Plc departed. Meanwhile, the Meristem Value Index added Access Bank Plc, Dangote Sugar Refinery Plc, and Zenith Bank Plc, with AIICO Insurance Plc, Nigerian Breweries Plc, FCMB Group Plc, and Flour Mills Nigeria Plc leaving.
The NGX Industrial Index, Corporate Governance Index, and Afrinvest Bank Value Index recorded no changes during the review, maintaining their current composition.
