The Nigerian Exchange Limited (NGX) has announced major changes in its semi-annual market index review, effective July 1, 2025. Notably, Conoil Plc and Julius Berger Nigeria Plc have been removed from the prestigious NGX 30 Index, while Aradel Holdings Plc and Wema Bank Plc have been added. These changes reflect adjustments based on market capitalisation performance over the past six months.
Beyond the NGX30 Index, several other sector-specific indices also experienced reshuffling. McNichols Consolidated Plc joined the NGX Consumer Goods Index, replacing Golden Guinea Breweries Plc. LASACO Assurance Plc entered the NGX Insurance Index, while Fortis Global Insurance Plc and International Energy Insurance Plc exited. The NGX Industrial Index saw Austin Laz & Company Plc added, replacing Notore Chemical Industries Plc.
In other index movements, Access Holdings, FCMB Group, and Julius Berger Nigeria Plc were added to the Afrinvest Dividend Yield Index. The Meristem Growth Index welcomed Wema Bank, Chemical and Allied Products Plc, and GTCO, while Fidelity Bank, Transcorp, UBA, Unilever Nigeria, and Guinness Nigeria were dropped. However, UBA, Unilever, and Guinness joined the Meristem Value Index, indicating strategic realignments across performance-based groupings.
Interestingly, several major indices—including the NGX Banking, Oil & Gas, Pension, Lotus Islamic, Corporate Governance, and Pension Broad Indices—remained unchanged in this review cycle. The NGX reiterated that the indices are reviewed bi-annually in January and July to ensure they continue to reflect real-time market dynamics.
Commenting on the review, NGX CEO Jude Chiemeka highlighted the Exchange’s commitment to innovation, product development, and enhanced market liquidity. Abimbola Babalola, Head of Trading & Products at NGX, emphasized the importance of these indices for helping investors track market shifts and manage portfolios effectively. The NGX also noted that it retains the discretion to further adjust the indices in cases of mergers, acquisitions, or trading status changes before the next review date.
Source: Punch