Home Business Why NGX adjusted market indices 
BusinessNews

Why NGX adjusted market indices 

Share
Mr. Jude Chiemeka, Acting Chief Executive Officer (CEO) of Nigerian Exchange Limited (NGX). Photo credit: Business Traffic.
Share

By Chioma Obinagwam

 

Nigerian Exchange Limited (NGX) has released 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.

 

NGX told Confiance News in a statement on Monday.

 

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 Monday, 1 July 2024. Below are the incoming and exiting companies in the various indices:

 

Table showing incoming and exiting companies in various indices. Photo credit: NGX.

 

“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 respectively,” the statement explained.

 

Jude Chiemeka (Ag. CEO NGX) reiterated, ‘’The Exchange continues to blaze the trail on the path to becoming Africa’s foremost securities exchange with innovation and product development that deepens the market and boosts liquidity, thus connecting Nigeria, Africa and the world.’’

 

Abimbola Babalola (Head, Trading & Products) emphasized that ‘’NGX indices are developed, managed and rebalanced semi-annually to allow investors efficiently track market movements and properly manage investment portfolios.’’

 

Also known as NGX or The Exchange, the Nigerian Exchange Limited is the sustainable exchange championing the development of Africa’s largest economy.

Please follow and like us:
Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your career with NNPC Limited

Start your career with NNPC Limited
Start your career with NNPC Limited

Member

Don't Miss

Why NDIC commenced payment of liquidation dividends to depositors with funds above insured sum

By Chioma Obinagwam In its continued commitment to ensuring that depositors of the defunct Heritage Bank are fully reimbursed, the Nigeria Deposit Insurance...

13 common mistakes that make your medication ineffective

By Chioma Obinagwam Wondering why your medication is not giving you the desired results? Here are common mistakes you may be guilty of....

Related Articles

13 common mistakes that make your medication ineffective

By Chioma Obinagwam Wondering why your medication is not giving you the...

NDIC breaks silence on CBEX crash

By Chioma Obinagwam The Nigerian Deposit Insurance Corporation (NDIC) has reacted to...

Shareholders of Lafarge Africa approve N1.20 dividend per share

…as company reaffirms commitment to sustainable growth By Chioma Obinagwam Shareholders of...

Why Gospel singer Rita Bon launched another single “Judgement Day”

By Chioma Obinagwam Nigeria’s Gospel sensation, Rita Bon has scheduled to release,...