OANDO, UBA Are Incoming as NGX Reveals 2021 Review Results of Market Indices

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Tuesday, January 04, 2022 / 01:36 PM / by NGX / Header Image Credit: NGX

 

The review has led to the entry and exit of some companies from several indices which took effect when the market opened on Tuesday, January 4, 2022.

 

Below are the incoming and exiting companies in the various indices:

 

Indices Title

Incoming

Exiting

 

 

 

 

NGX 30 Index

  • Oando Plc

  • Nascon Allied Industries Plc

 

 

 

NGX Consumer Goods Index

  • None

  • None

 

 

 

NGX Banking Index

  • None

  • None

 

 

 

NGX Insurance Index

  • None

  • None

 

 

 

NGX Industrial Index

  • Tripple Gee and Company Plc

  • None

 

 

 

NGX Oil & Gas Index

  • None

  • None

 

 

 

NGX Pension Index

  • None

  • None

 

 

 

NGX Lotus Islamic Index

 

  • None

  • Ardova Plc
  • Unilever Nigeria Plc

 

 

 

Corporate Governance Index

  • None

  • None

 

 

 

Afrinvest Bank Value Index

  • United Bank for Africa Plc.

  • FCMB Plc

 

 

 

Afrinvest Div Yield Index

  • Guinness Nig. Plc
  • Vitafoam Nig. Plc
  • Tripple Gee and Company Plc

  • AIICO Insurance Plc
  • Conoil Plc
  • Dangote Sugar Refinery Plc
  • Fidelity Bank Plc
  • United Capital Plc

 

 

 

Meristem Growth Index

  • Dangote Cement Plc
  • Glaxo Smithkline Consumer Nig. Plc
  • Guinness Nig. Plc
  • Livestock Feeds Plc
  • Total Energies Marketing Nigeria Plc

  • Nestle Plc
  • Stanbic IBTC Holdings Plc

 

 

 

Meristem Value Index

  • Cadbury Nigeria Plc
  • Eterna Plc
  • Nascon Allied Industries Plc
  • Sterling Bank Plc
  • Lafarge Africa Plc

  • Ardova Plc
  • Cap Plc
  • Custodian Investment Plc
  • FBN Holdings Plc
  • Honeywell Flour Mill Plc
  • United Capital Plc
  • Unilever Nigeria Plc

 

 

 

 

 

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.

 

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. 

 

In July 2012, the Nigerian bourse launched The NGX Lotus Islamic Index (NGX LII) which consists of companies whose business practices are in conformity with Shari'ah Investment Principles, with the aim of increasing the breadth of the market and creating an important benchmark for investments as the alternative ethical and noninterest investment space widened. The companies that appear on the Islamic Index have been thoroughly screened by Lotus Capital Halal Investment, in accordance with a methodology approved by an internationally recognized Shari'ah Advisory Board comprising of renowned Islamic scholars. 

 

Proshare Nigeria Pvt. Ltd.


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