The Nigerian Exchange Limited (NGX) has disclosed the coming in of Guinness Nigeria Plc on the NGX 30 index, a key benchmark tracking the 30 most capitalized and liquid companies listed on the Exchange.
The Exchange 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 open of the market on January 2, 2025.
For the NGX 30 index, Guinness Nigeria Plc is entering while United Capital Plc is exiting. There are no changes in the NGX Consumer Goods Index and NGX Banking Index.
For the NGX Insurance index, Mutual Benefits Assurance Plc is entering while Guinea Insurance Plc is exiting. Also, there is no change in the NGX Industrial Index. For the
NGX Oil & Gas index, Japaul Gold & Ventures Plc is entering while MRS Oil Nigeria Plc is exiting.
Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July respectively.
The CEO of NGX, Jude Chiemeka stated that the Exchange continues to blaze the trail on the path to becoming Africa’s foremost securities exchange with innovation and product development that deepen the market and boost liquidity, thus connecting Nigeria, Africa and the world.
Head, Trading & Products, Abimbola Babalola, emphasised that NGX indices are developed, managed and rebalanced annually to allow investors efficiently track market movements and properly manage investment portfolios.
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