Geregu Power Plc and Sterling Financial Holding Plc have replaced Custodian Investment Plc and Wema Bank Plc in the NGX 30 Index.
The Nigerian Exchange Limited (NGX) on July 4 announced the results of its half year (H1) market index review.
The review was for the following indices – 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.
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 July 3, 2023.
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 respectively. NGX indices are developed to allow investors efficiently track market movements and properly manage investment portfolios.
