The Nigerian Exchange Limited (NGX) has rebalanced its market indices following the completion of its half-year 2025 review, with Oando Plc, Transnational Corporation Plc (Transcorp), Unilever Nigeria Plc and NASCON Allied Industries Plc, joining the benchmark NGX 30 Index.
The Exchange announced on Tuesday that the review covered its flagship NGX 30 Index, NGX Lotus Islamic Index, NGX Pension Index, NGX Pension Broad Index, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, and Meristem Value Index, as well as its sectoral indices comprising the Banking, Insurance, Industrial, Consumer Goods and Oil and Gas indices.
According to NGX, the constituent changes took effect at the opening of trading on Tuesday, July 1, following a comprehensive assessment of listed companies in line with the Exchange’s prescribed index methodology and periodic rebalancing process.
The inclusion of Oando, Transcorp, Unilever Nigeria and NASCON in the NGX 30 Index reflects their qualification under the Exchange’s benchmark for Nigeria’s leading listed companies, a development expected to increase their visibility among domestic and foreign investors, as well as institutional fund managers that track the index.
The Exchange said no changes were made to the NGX Consumer Goods, Banking, Insurance, Industrial, Oil and Gas, Pension and Pension Broad indices during the review.
However, the NGX Lotus Islamic Index recorded changes, with Nestlé Nigeria Plc, Cadbury Nigeria Plc, and NASCON Allied Industries Plc exiting the Shariah-compliant benchmark.
Within the Afrinvest Bank Value Index, Stanbic IBTC Holdings Plc was added as the only new constituent.
The Afrinvest Dividend Yield Index also underwent significant adjustments, with Seplat Energy Plc, Fidelity Bank Plc, Stanbic IBTC Holdings Plc, Custodian Investment Plc, Nigerian Aviation Handling Company Plc and Access Holdings Plc joining the index.
Similarly, the Meristem Growth Index admitted Eterna Plc, PZ Cussons Nigeria Plc, BUA Cement Plc, Guaranty Trust Holding Company Plc, AXA Mansard Insurance Plc, Nigerian Aviation Handling Company Plc, NASCON Allied Industries Plc, Okomu Oil Palm Company Plc, Lafarge Africa Plc and Wema Bank Plc.
The Meristem Value Index also recorded new additions, including Chemical and Allied Products Plc, Honeywell Flour Mills Plc, Dangote Cement Plc, Linkage Assurance Plc, Livestock Feeds Plc, NASCON Allied Industries Plc, Okomu Oil Palm Company Plc, TotalEnergies Marketing Nigeria Plc, Ecobank Transnational Incorporated, Guinness Nigeria Plc and Zenith Bank Plc.
NGX said the semi-annual review underscores its commitment to maintaining transparent, investable and representative market benchmarks that accurately reflect prevailing market conditions.
According to the Exchange, the indices provide investors, asset managers and other market participants with reliable tools for tracking market performance, evaluating investment opportunities and benchmarking portfolio returns.
The Exchange noted that its indices are constructed using a market capitalisation methodology and are reviewed semi-annually on the first business day of January and July to ensure they remain aligned with changing market dynamics and international best practices.
NGX added that it reserves the right to make further adjustments to its indices before the next scheduled review where necessary, including in cases involving mergers and acquisitions, trading suspensions or resumptions, and other corporate actions.
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