Emmanuel OchayiConoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc have been added to the NGX 30 Index of the stock market, replacing Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nigeria Plc.
This change took effect on January 2, 2025, following a comprehensive review of the Nigerian Exchange’s (NGX) market indices.
Join our WhatsApp ChannelReview of Stock Market Indices
The recent review by NGX led to significant reshuffling across various indices. For instance, Wema Bank Plc replaced Sterling Holding Company Plc in the NGX Banking Index, while Golden Guinea Breweries Plc took the place of Flour Mills Nigeria Plc in the NGX Consumer Goods Index.
Changes in the NGX Insurance Index
In the NGX Insurance Index, Guinea Insurance Plc and International Energy Insurance Plc have replaced LASACO Assurance Plc and Mutual Benefits Assurance Plc.
This realignment reflects the dynamic nature of the Nigerian stock market and its continuous evolution to better represent market realities.
NGX Oil & Gas Index Adjustments
Japaul Oil and Services has been removed from the NGX Oil & Gas Index, making way for new entrants like Aradel Holdings Plc, MRS Plc, and Oando Plc. This shift underscores the growth and diversification within the oil and gas sector.
Overview of Full-Year Stock Market Index Review
The NGX announced the results of its full-year market index review, covering several indices, including NGX 30, NGX Lotus Islamic, NGX Pension, NGX Pension Broad Index, and various sectoral indices such as NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods, and NGX Oil & Gas.
These indices are rebalanced semi-annually in January and July, ensuring they accurately reflect market conditions.
Launch of the NGX Equity-Based Commodity Index
Additionally, NGX has introduced the NGX Equity-Based Commodity Index. This new index tracks companies involved in energy, agriculture, mining, metals, and natural resources.
READ ALSO: Stock Market On Positive Start, Gains N1.25trn
It aims to provide investors with exposure to essential raw materials that drive global economic activity.
Key Comments from NGX Leadership
Jude Chiemeka, CEO of NGX, highlighted the Exchange’s commitment to innovation and market development, aiming to position NGX as Africa’s leading securities exchange.
Abimbola Babalola, Head of Trading and Products, emphasised the importance of these indices in helping investors track market movements and manage their portfolios effectively.
Further Adjustments in Stock Market Indices
Aradel Holdings Plc and Transcorp Power Plc are now part of the NGX Pension Index, replacing Flour Mills Nigeria Plc and Cadbury Nigeria Plc. The NGX Lotus Islamic Index welcomed Aradel Holdings Plc, while Dangote Sugar Refinery Plc was removed.
In the NGX Pension Broad Index, Aradel Holdings Plc replaced Flour Mills Nigeria Plc. Red Star Express Plc took over from FCMB Group Plc and Dangote Cement Plc in the Afrinvest Dividend Yield Index. Meanwhile, FCMB Group Plc replaced Access Holdings Plc and Zenith Bank Plc in the Meristem Growth Index.
Access Bank Plc, Dangote Sugar Refinery Plc, and Zenith Bank Plc have also made their way into the Meristem Value Index, replacing AIICO Insurance Plc, Nigerian Breweries Plc, and Flour Mills Nigeria Plc.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
