The Nigerian Exchange Limited has announced the results of its half-year market index review, which saw significant changes across several key indices, including the NGX 30 Index.
The adjustments, according to the NGX, were based on the market capitalisation methodology, which took effect at the open of the market on July 1, 2025.
In a notable shift for the NGX 30 Index, Aradel Holdings Plc and Wema Bank Plc have been added to the list of top companies, while Conoil Plc and Julius Berger Nigeria Plc have exited the index.
The NGX in a statement said the rebalancing reflects the dynamic nature of the market and the performance of constituent companies over the past half-year.
According to NGX, Beyond the NGX 30, the review impacted a range of other indices. The NGX Consumer Goods Index welcomed McNichols Consolidated Plc, with Golden Guinea Breweries Plc making an exit.
In the NGX Insurance Index, LASACO Assurance Plc. was added, replacing Fortis Global Insurance Plc and International Energy Insurance Plc. Austin Laz & Company Plc joined the NGX Industrial Index, as Notore Chemical Industries Plc departed.
“The Afrinvest Dividend Yield Index saw the inclusion of Access Holdings Plc, FCMB Group Plc., and Julius Berger Nigeria Plc. Meanwhile, the Meristem Growth Index experienced several changes, with Wema Bank Plc, Chemical and Allied Products Plc, and Guaranty Trust Holding Company Plc joining, while Fidelity Bank Plc., Transnational Corporation Plc, United Bank for Africa Plc, Unilever Nigeria Plc, and Guinness Nig Plc exited. Conversely, United Bank for Africa Plc, Unilever Nigeria Plc, and Guinness Nig PLC entered the Meristem Value Index, as Julius Berger Nigeria Plc moved out.
“Interestingly, the NGX Banking, NGX Oil & Gas, NGX Pension, NGX Lotus Islamic, Corporate Governance, and NGX Pension Broad Indices saw no changes in their constituents during this half-year review.”
NGX stated that the indices are rebalanced on a semi-annual basis, occurring on the first business day in January and July each year, to ensure they accurately reflect market movements.
The chief executive officer of the NGX, Jude Chiemeka, reiterates that the Exchange continues to blaze the trail on the path to becoming Africa’s foremost securities exchange with innovation and product development that deepen the market and boost liquidity, thus connecting Nigeria, Africa and the world.
Head, Trading & Products at NGX, Abimbola Babalola emphasized that NGX indices are developed, managed and rebalanced semi-annually to allow investors efficiently track market movements and properly manage investment portfolios.
The NGX said, “the compiler of the indices reserves the right to modify the circulated selection in connection with any mergers, takeovers, suspension or resumption of trading, or any other company structure changes before the effective date of the annual review.”
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