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Nigerian Exchange (NGX or The Exchange) Limited has announced the results of
its half year market index review for the following indices – the 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 effective Thursday, 1
July 2021. Below are the incoming and exiting companies in the various indices:
Indices

The indices were developed to allow investors to follow market movements and properly manage
investment portfolios. 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.
It would be recalled that NGX recently announced the rebranding of its indices in line with NGX’s drive to
standardise and ensure consistent expression of the brand across touchpoints. All indices were rebranded
with a pre-fix, NGX – formerly NSE – to promote brand awareness and recognition. The exercise did not,
however, affect the computation methodology of the indices.
The Nigerian bourse began publishing the NGX 30 Index in February 2009 with index values available
from January 1, 2007. On July 1, 2008, the NGX developed five sectoral indices with a base value of 1,000
points, designed to provide investable benchmarks to capture the performance of specific sectors. The
sectoral indices comprise the top fifteen most capitalized and liquid companies in the Insurance and
Consumer Goods sectors; the top ten most capitalized and liquid companies in the Banking and Industrial
Goods sector; and the top seven most capitalized and liquid companies in the Oil & Gas sector.
Furthermore, NGX has collaborated with other capital market players to publish co-branded indices
including Lotus Capital Limited, Meristem Securities Limited and Afrinvest Securities Limited.
The compiler of the indices maintains the right to modify the circulated selection above in connection with
any mergers, takeovers, suspension or resumption of trading or any other company structure changes
during the period before the effective date of the annual review.
Enquiries
Olumide Orojimi
Head, Corporate Communications
Email: oorojimi@ng