The Nigerian Exchange has launched the Equity-Based Commodity Index, a market commodity index designed to track the performance of companies primarily operating in the energy, agriculture, mining, metals, and natural resources sectors.
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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 initial value of the NGX Equity-Based Commodity Index is set at 1,000.
In addition to launching the new index, the Nigeria Exchange Limited also provided updates on the changes in its incoming and existing indices.
In the NGX 30 Index, which tracks the largest and most liquid companies, Conoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc are the incoming constituents. However, Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nigeria Plc will be exiting the index.
The NGX Consumer Goods Index will see Golden Guinea Breweries Plc added to its list of constituents, while Flour Mills Nigeria Plc will exit.
For the NGX Banking Index, Wema Bank Plc has been included, while Sterling Holding Company Plc will be removed.
Changes are also occurring in the NGX Insurance Index, with Guinea Insurance Plc and International Energy Insurance Plc joining the index. Conversely, LASACO Assurance Plc and Mutual Benefits Assurance Plc will be exiting.
The NGX Industrial Index will not see any changes, as there are no incoming or exiting companies.
In the NGX Oil & Gas Index, Aradel Holdings Plc, MRS Plc, and Oando Plc are the new additions, while Japaul Oil and Services will be exiting.
The NGX Pension Index will see Aradel Holdings Plc and Transcorp Power Plc included, with Flour Mills Nigeria Plc and Cadbury Nigeria Plc being removed.
In the NGX Lotus Islamic Index, Aradel Holdings Plc is the sole incoming constituent, while Dangote Sugar Refinery Plc exits.
The Corporate Governance Index will remain unchanged, with no new additions or removals.
In the NGX Pension Broad Index, Aradel Holdings Plc will join, while Flour Mills Nigeria Plc exits.
The Afrinvest Bank Value Index remains unaffected by the rebalancing, with no changes to its constituents.
In the Afrinvest Div Yield Index, Red Star Express Plc will be included, while FCMB Group Plc and Dangote Cement Plc will exit.
The Meristem Growth Index will add FCMB Group Plc, while Access Bank Plc and Zenith Bank Plc will be removed.
Lastly, in the Meristem Value Index, Access Bank Plc, Dangote Sugar Refinery Plc, and Zenith Bank Plc are the new additions, while AIICO Insurance Plc, Nigerian Breweries Plc, FCMB Group Plc, and Flour Mills Nigeria Plc will exit.
The Chief Executive Officer of NGX, Jude Chiemeka, highlighted that the Exchange continues to advance towards its goal of becoming the leading securities exchange by introducing products that deepen the market and enhance liquidity while connecting Nigeria to the global economy.
Also, the Head of Trading & Products at NGX, Abimbola Babalola, stated that the Exchange’s indices are managed and rebalanced semi-annually, allowing investors to track market movements effectively and optimise their investment strategies.
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