Nigerian Exchange (NGX or The Exchange) Limited has announced the results of its half year market index review for the following indices – the NGX 30, NGX Lotus Islamic, NGX Pension, 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 effective Thursday, 1 July 2021. Below are the incoming and exiting companies in the various indices:
| Indices Title | Incoming | Exiting |
|
NGX 30 Index |
· United Capital Plc | · 11 Plc (delisted) |
| NGX Consumer Goods Index | · None | · None |
| NGX Banking Index | · None | · None |
| NGX Insurance Index | · None | · None |
| NGX Industrial Index | · None | · None |
| NGX Oil & Gas Index | · None | · 11 Plc (delisted) |
| NGX Pension Index | · Vitafoam Nig. Plc | · 11 Plc (delisted) |
| NGX Lotus Islamic Index
|
· Presco Plc
· Nigerian Aviation Handling Company Plc |
· Chemical and Allied Paints Plc
· Cadbury Nigeria Plc |
| Corporate Governance Index | · None | · None |
| Afrinvest Bank Value Index | · Fidelity Bank Plc
· FCMB Plc |
· United Bank for Africa Plc. |
| Afrinvest Div Yield Index | · Dangote Cement Plc. | · Africa Prudential Plc
· Vitafoam Plc |
| Meristem Growth Index | · Aiico Insurance Plc
· Jaiz Bank Plc · Presco Plc · PZ Cussons Nigeria Plc |
· Africa Prudential Plc
· Ardova Plc · Dangote Cement Plc · Glaxo Smithkline Consumer Nig. Plc |
| Meristem Value Index | · Ardova Plc
· Custodian Investment Plc · Unilever Nigeria Plc |
· Conoil Plc
· Presco Plc · Wema Bank Plc · Nascon Allied Industries Plc |
The indices were developed to allow investors to follow market movements and properly manage investment portfolios. Designed using the market capitalization methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.
It would be recalled that NGX recently announced the rebranding of its indices in line with NGX’s drive to standardise and ensure consistent expression of the brand across touchpoints. All indices were rebranded with a pre-fix, NGX – formerly NSE – to promote brand awareness and recognition. The exercise did not, however, affect the computation methodology of the indices.
The Nigerian bourse began publishing the NGX 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NGX developed five sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors. The sectoral indices comprise the top fifteen most capitalized and liquid companies in the Insurance and Consumer Goods sectors; the top ten most capitalized and liquid companies in the Banking and Industrial Goods sector; and the top seven most capitalized and liquid companies in the Oil & Gas sector.
Furthermore, NGX has collaborated with other capital market players to publish co-branded indices including Lotus Capital Limited, Meristem Securities Limited and Afrinvest Securities Limited.
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.
Enquiries
Olumide Orojimi
Head, Corporate Communications
Email: oorojimi@ngxgroup.com