…Wema Bank Plc is also named into the Meristem Growth Index alongside Chemical and Allied Products Plc and Guaranty Trust Holding Company Plc.
WED JULY 02 2025-theGBJournal| Nigerian Exchange Limited (The Exchange), the sustainable exchange championing the development of Africa’s largest economy, on Monday announced the results of its full year market index review of Market Indices.
The market indices reviewed are NGX 30; NGX Lotus Islamic; NGX Pension; NGX Pension Broad Index; Corporate Governance Index; Afrinvest Bank Value Index and Afrinvest Dividend Yield Index
Others are 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.
Aradel Holdings Plc, the integrated energy Company and Wema Bank Plc, a first generation banking institution, made entry into the prestigious sub-index, NGX 30 index with the exit of Conoil Plc Julius Berger Nigeria Plc.
McNichols Consolidated Plc, the food processor with huge profile in sugar, chocolate powder among others has also made entry into the NGX Consumer Goods Index while Golden Guinea Breweries Plc exits.
Meanwhile, Austin Laz & Company Plc, the refrigerator manufacture, made entry into NGX Industrial Index as Notore Chemical Industries Plc exited.
Access Holdings Plc, FCMB Group Plc., Julius Berger Nigeria Plc made the Afrinvest Div Yield Index, the factor index which provides fundamental basis for tracking high dividend paying stocks on the Nigerian equities market.
Wema Bank Plc is also named into the Meristem Growth Index alongside Chemical and Allied Products Plc and Guaranty Trust Holding Company Plc.
Fidelity Bank Plc., Transnational Corporation plc, United Bank for Africa Plc, Unilever Nigeria Plc, Guinness Nig Plc have been left out from the Meristem Growth sub-index.
United Bank for Africa Plc, Unilever Nigeria Plc, Guinness Nig PLC were entered for Meristem Value Index while Julius Berger Nigeria Plc exited.
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.
Jude Chiemeka (CEO, NGX) 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.
Abimbola Babalola (Head, Trading & Products) emphasized that NGX indices are developed, managed and rebalanced semi-annually to allow investors efficiently track market movements and properly manage investment portfolios.
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