The Nigerian Exchange Limited has announced the results of its full-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.According to the statement by the NGX, the review has led to the entry and exit of some companies from several indices that took effect at the opening of the market on Tuesday, January 3, 2023.

It stated that the indices were developed to allow investors track market movements and properly manage investment portfolios.

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.

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 15 most capitalised and liquid companies in the Insurance and Consumer Goods sectors; the top ten most capitalised and liquid companies in the Banking and Industrial Goods sector; and the top seven most capitalised and liquid companies in the Oil & Gas sector.

In July 2012, the Nigerian bourse launched The NGX Lotus Islamic Index (NGX LII) which consists of companies whose business practices are in conformity with Shari’ah Investment Principles, with the aim of increasing the breadth of the market and creating an important benchmark for investments as the alternative ethical and noninterest investment space widened.

The companies that appear on the Islamic Index have been thoroughly screened by Lotus Capital Halal Investment, in accordance with a methodology approved by an internationally recognised Shari’ah Advisory Board comprising of renowned Islamic scholars.

Listed below are the incoming and exiting companies in the various indices:

Listed below are the incoming and exiting companies in the various indices:

Indices Title Incoming Exiting

NGX 30 Index

 BUA Foods Plc
 Wema Bank Plc

 Oando Plc
 Union Bank Plc

NGX Consumer
Goods Index

 None  None

NGX Banking Index  None  None
NGX Insurance Index  None  African Alliance Insurance Plc
NGX Industrial Index  None  None
NGX Oil & Gas Index  Mrs Oil Nigeria Plc  Oando Nigeria Plc
NGX Pension Index  Airtel Africa Plc
 BAU Foods Plc

 Honeywell Plc
 Conoil Plc

NGX Lotus Islamic
Index

 CAP Plc  NAHCO Nigeria Plc
 NASCON Nigeria Plc
 Presco Plc

Corporate
Governance Index

 Berger Paints Plc  None

Nigerian Exchange Limited 2 www.ngxgroup.com
Afrinvest Bank Value
Index

 None  Fidelity Bank Plc

.

Afrinvest Div Yield
Index

 None  University Press Plc
 Access Holdings Plc

Meristem Growth
Index

 FIDSON Plc
 Nigeria Breweries Plc
 Sterling Bank Plc

 Dangote Cement Plc
 Eterna Plc
 Glaxo Smithkline Con. Plc
 Seplat Energy Plc
 Guaranty Trust Holding Co.
Plc

Meristem Value
Index

 Access Holding Plc
 Glaxo Smithkline Con. Plc
 May & Baker Nig. Plc
 LAFARGE Africa Plc

 None