Nigerian Exchange Limited (“NGX” or “The Exchange”), the sustainable exchange championing the development of Africa’s largest economy, has announced the results of its half 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.
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 Tuesday, 2 January 2024. Below are the incoming and exiting companies in the various indices:
| INDICES TITLE | INCOMING | INDICES TITLE |
| NGX 30 Index | None | None |
| NGX Consumer Goods Index | None | None |
| NGX Banking Index | FBN Holdings plc FCMB Group plc Guaranty Trust Holding company plc Stanbic IBTC Holdings plc | Jaiz Bank · Union Bank Nigeria Plc · Unity Bank · Wema Bank |
| NGX Insurance Index | Universal Insurance Company plc | International Energy Insurance Plc |
| NGX Industrial Index | None | None |
| NGX Oil & Gas Index | None | None |
| NGX Pension Index | Transcorp Hotels plc Fidson Healthcare plc Nigerian Aviation Handling Company plc Conoil plc | Pz Cussons Nigeria plc Nascon Allied Industries plc Unilever Nigeria plc |
| NGX Lotus Islamic Index | None | Nestle Nigeria Plc |
| Corporate Governance Index | None | None |
| NGX Pension Broad Index | Geregu Power Plc. | Glaxo Smithkline Consumer Nig. |
| Afrinvest Bank Value Index | None | None |
| Afrinvest Div Yield Index | MTN Nigeria communications plc Vitafoam Nigeria plc Stanbic IBTC holdings plc NPF microfinance bank plc | Dangote sugar refinery plc FCMB Group plc. Cutix plc Glaxo Smithkline Consumer Nig. Plc |
| Meristem Growth Index | ACCESS FIDELITYBK UBA UCAP WAPCO ZENITHBANK | CAP JBERGER PRESCO PZ VITAFOAM |
| Meristem Value Index | AIICO CAP CAVERTON JBERGER MRS NB NPFMCRFBK REDSTAREX | DANGSUGAR ACCESS ETI FCMB FIDELITYBK LIVESTOCK UBA WAPCO ZENITHBANK |
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. NGX indices are developed to allow investors efficiently track market movements and properly manage investment portfolios.
NGX 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.
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.
