Conoil, International Breweries, Oando, Transcorp Power join NGX 30 league

… Wema Bank replaces Sterling Holding in NGX Banking Index

Conoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc have replaced Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc and Flour Mills Nigeria Plc in the NGX 30 Index that were exited.

This development which took effect at the opening of the market on Thursday January 2, 2025 follows recent review of market indices which led to the entry and exit of some companies from several indices.

Also, while Wema Bank Plc has replaced Sterling Holding Company Plc in the NGX Banking Index, Golden Guinea Breweries Plc replaced Flour Mills Nigeria Plc in the NGX Consumer Goods Index that have been exited.

For the NGX Insurance Index, Guinea Insurance Plc, and International Energy Insurance Plc replaced LASACO Assurance Plc and Mutual Benefits Assurance Plc that have been exited.

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Japaul Oil and Services has been exited from the NGX Oil & Gas Index for new entrants like Aradel Holdings Plc, MRS Plc, and Oando Plc.

Recently, the Nigerian Exchange Limited (NGX) announced 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.

Designed using the market capitalisation methodology, the indices are rebalanced semi-annually on the first business day in January and July respectively. The Exchange has also launched the NGX Equity-Based Commodity Index, a broad market commodity index that captures and tracks the collective movements of companies with primary operations in energy, agriculture, mining, metals, and natural resources.

Through the Equity-Based Commodity Index, investors are provided with potential exposure to the essential raw materials and natural resources that drive global economic activity.

The starting constituents of the index are Geregu Power Plc, Multiverse Mining and Exploration Plc, Okomu Oil Palm Plc, Presco Plc, Seplat Energy Plc, Transcorp Power Plc, and Aradel Holdings Plc. The index’s starting value is set at 1,000.

Jude Chiemeka, CEO, NGX reiterates that the Exchange continues to blaze the path to becoming Africa’s foremost Securities Exchange with innovation and product developments that deepen the market and boost liquidity, thus connecting Nigeria, Africa, and the world.

Also, Abimbola Babalola, Head, Trading and Products, NGX emphasised that NGX indices are developed, managed, and rebalanced semi-annually to allow investors to track market movements efficiently and manage their investment portfolios properly.

Further look at the results of full-year review of market indices shows that Aradel Holdings Plc and Transcorp Power Plc are newest entrants in the NGX Pension Index while Flour Mills Nigeria Plc and Cadbury Nigeria Plc were exited. NGX Lotus Islamic Index now has

Aradel Holdings Plc as its newest member while Dangote Sugar Refinery Plc was exited.

Read also: ASHON closes trading on NGX as CIS reviews market performance

Likewise, Aradel Holdings Plc has replaced Flour Mills Nigeria Plc in the NGX Pension Broad Index. Red Star Express Plc replaced FCMB Group Plc and Dangote Cement Plc in the Afrinvest Div Yield Index. FCMB Group Plc has replaced Access Holdings Plc and Zenith Bank Plc in the Meristem Growth Index.

For the Meristem Value Index, Access Bank Plc, Dangote Sugar Refinery Plc, and

Zenith Bank Plc replaced AIICO Insurance Plc, Nigerian Breweries Plc, FCMB Group Plc and Flour Mills Nigeria Plc that were exited from the index.