Why NGX adjusted market indices 

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:

“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: