NGX Launches Equity-Based Commodity Index and Announces Index Updates
The Nigerian Exchange Limited (NGX) has unveiled a new market index, the Equity-Based Commodity Index, designed to track the performance of companies primarily operating in the energy, agriculture, mining, metals, and natural resources sectors.
Key Details:
Index Constituents:
The starting companies in the index include:
• Geregu Power Plc
• Multiverse Mining and Exploration Plc
• Okomu Oil Palm Plc
• Presco Plc
• Seplat Energy Plc
• Transcorp Power Plc
• Aradel Holdings Plc
Initial Value: The new index is set at 1,000 points.
Purpose: This index aims to deepen the Nigerian market, enhance liquidity, and offer investors a better way to track the commodity-focused sector.
Updates to Existing NGX Indices
1. NGX 30 Index:
• Additions: Conoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc.
• Exits: Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nigeria Plc.
2. NGX Consumer Goods Index:
• Addition: Golden Guinea Breweries Plc.
• Exit: Flour Mills Nigeria Plc.
3. NGX Banking Index:
• Addition: Wema Bank Plc.
• Exit: Sterling Holding Company Plc.
4. NGX Insurance Index:
• Additions: Guinea Insurance Plc, International Energy Insurance Plc.
• Exits: LASACO Assurance Plc, Mutual Benefits Assurance Plc.
5. NGX Oil & Gas Index:
• Additions: Aradel Holdings Plc, MRS Plc, and Oando Plc.
• Exit: Japaul Oil and Services.
6. NGX Pension Index:
• Additions: Aradel Holdings Plc, Transcorp Power Plc.
• Exits: Flour Mills Nigeria Plc, Cadbury Nigeria Plc.
7. NGX Lotus Islamic Index:
• Addition: Aradel Holdings Plc.
• Exit: Dangote Sugar Refinery Plc.
8. Afrinvest Div Yield Index:
• Addition: Red Star Express Plc.
• Exits: FCMB Group Plc, Dangote Cement Plc.
9. Meristem Growth Index:
• Addition: FCMB Group Plc.
• Exits: Access Bank Plc, Zenith Bank Plc.
10. Meristem Value Index:
• Additions: Access Bank Plc, Dangote Sugar Refinery Plc, Zenith Bank Plc.
• Exits: AIICO Insurance Plc, Nigerian Breweries Plc, FCMB Group Plc, Flour Mills Nigeria Plc.
NGX Leadership’s Vision
Jude Chiemeka, CEO of NGX, emphasized the commitment to transforming the Nigerian capital market by introducing innovative products to enhance investor experience and connect the country to the global economy.
Meanwhile, Abimbola Babalola, Head of Trading & Products, noted that these indices are rebalanced semi-annually, helping investors optimize their strategies.
This initiative solidifies NGX’s position as a leading securities exchange focused on growth and innovation.
The Nigerian Exchange Limited (NGX) has unveiled a new market index, the Equity-Based Commodity Index, designed to track the performance of companies primarily operating in the energy, agriculture, mining, metals, and natural resources sectors.
Key Details:
Index Constituents:
The starting companies in the index include:
• Geregu Power Plc
• Multiverse Mining and Exploration Plc
• Okomu Oil Palm Plc
• Presco Plc
• Seplat Energy Plc
• Transcorp Power Plc
• Aradel Holdings Plc
Initial Value: The new index is set at 1,000 points.
Purpose: This index aims to deepen the Nigerian market, enhance liquidity, and offer investors a better way to track the commodity-focused sector.
Updates to Existing NGX Indices
1. NGX 30 Index:
• Additions: Conoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc.
• Exits: Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nigeria Plc.
2. NGX Consumer Goods Index:
• Addition: Golden Guinea Breweries Plc.
• Exit: Flour Mills Nigeria Plc.
3. NGX Banking Index:
• Addition: Wema Bank Plc.
• Exit: Sterling Holding Company Plc.
4. NGX Insurance Index:
• Additions: Guinea Insurance Plc, International Energy Insurance Plc.
• Exits: LASACO Assurance Plc, Mutual Benefits Assurance Plc.
5. NGX Oil & Gas Index:
• Additions: Aradel Holdings Plc, MRS Plc, and Oando Plc.
• Exit: Japaul Oil and Services.
6. NGX Pension Index:
• Additions: Aradel Holdings Plc, Transcorp Power Plc.
• Exits: Flour Mills Nigeria Plc, Cadbury Nigeria Plc.
7. NGX Lotus Islamic Index:
• Addition: Aradel Holdings Plc.
• Exit: Dangote Sugar Refinery Plc.
8. Afrinvest Div Yield Index:
• Addition: Red Star Express Plc.
• Exits: FCMB Group Plc, Dangote Cement Plc.
9. Meristem Growth Index:
• Addition: FCMB Group Plc.
• Exits: Access Bank Plc, Zenith Bank Plc.
10. Meristem Value Index:
• Additions: Access Bank Plc, Dangote Sugar Refinery Plc, Zenith Bank Plc.
• Exits: AIICO Insurance Plc, Nigerian Breweries Plc, FCMB Group Plc, Flour Mills Nigeria Plc.
NGX Leadership’s Vision
Jude Chiemeka, CEO of NGX, emphasized the commitment to transforming the Nigerian capital market by introducing innovative products to enhance investor experience and connect the country to the global economy.
Meanwhile, Abimbola Babalola, Head of Trading & Products, noted that these indices are rebalanced semi-annually, helping investors optimize their strategies.
This initiative solidifies NGX’s position as a leading securities exchange focused on growth and innovation.