The Nigerian Exchange Ltd. (NGX) on Thursday announced the results of its full-year market index review for its indices, as well as the entries and exits of some companies from the various indices.

NGX, in a report, listed the affected indices as NGX 30, NGX Lotus Islamic, NGX Pension, NGX Pension Broad Index, Corporate Governance Index, Afrinvest Bank Value Index, and Afrinvest Dividend Yield Index.

Others include: 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 and Gas.

The Exchange said the review led to the entries and exits of some companies from several indices, which took effect at the opening of the market on Thursday.

For the NGX 30 Index, Conoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc entered, while Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nig. Plc exited.

On the NGX Consumer Goods Index, Golden Guinea Breweries Plc entered, and Flour Mills Nig. Plc exited, while the NGX Banking Index saw the entry of Wema Bank Plc and the exit of Sterling Holding Company Plc.

Guinea Insurance Plc and International Energy Insurance Plc entered the NGX Insurance Index, while LASACO Assurance Plc and Mutual Benefits Assurance Plc exited.

On the NGX Oil and Gas Index, Aradel Holdings Plc, MRS Plc, and Oando Plc entered, while Japaul Oil and Services exited.

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The NGX Pension Index also saw the entries of Aradel Holdings Plc and Transcorp Power Plc, with exits from Flour Mills Nig. Plc and Cadbury Nigeria Plc.

On the NGX Lotus Islamic Index, Aradel Holdings entered, and Dangote Sugar Refinery Plc exited, while the NGX Pension Broad Index recorded the entry of Aradel Holdings and the exit of Flour Mills Nig. Plc.

The Afrinvest Dividend Yield Index recorded the entry of Red Star Express Plc, while FCMB Group Plc and Dangote Cement Plc exited.

FCMB Group Plc also entered the Meristem Growth Index, while Access Bank Plc and Zenith Bank Plc exited.

The Meristem Value Index reported the entries of Access Bank Plc, Dangote Sugar Refinery Plc, Zenith Bank Plc, and exits from AIICO Insurance Plc, Nigerian Breweries Plc, FCMB Group Plc, and Flour Mills Nig. Plc.

However, the NGX Industrial Index, Corporate Governance Index, and Afrinvest Bank Value Index recorded no entry or exit of any company.

Designed using the market capitalization methodology, NGX explained that the indices are rebalanced semi-annually on the first business day in January and July, respectively.

The Exchange also launched the NGX Equity-Based Commodity Index, which captures and tracks the collective movements of companies in energy, agriculture, mining, metals, and natural resources.

The starting constituents of the index include Geregu Power Plc, Multiverse Mining and Exploration Plc, Okomu Oil Palm Plc, Presco Plc, Seplat Energy Plc, Transcorp Power Plc, and Aradel Holdings Plc.

The index’s starting value is set at 1,000.

Commenting, Mr. Jude Chiemeka, CEO of NGX, reiterated that the Exchange continues to blaze the trail toward becoming Africa’s foremost Securities Exchange.

Chiemeka said this would be achieved through innovation and product developments that deepen the market and boost liquidity, thus connecting Nigeria, Africa, and the world.

Similarly, Mr. Abimbola Babalola, Head of Trading and Products at NGX, noted that the indices are developed, managed, and rebalanced semi-annually to allow investors to track market movements efficiently and manage their investment portfolios properly.