Nigeria’s Stock Exchange Rebrands 19 Market Indices

June 28, 2021
ATS Training NGX

By Dipo Olowookere

A total of 19 market indices have been rebranded by the Nigerian Exchange (NGX) Limited to reflect the transformation of the Nigerian Stock Exchange (NSE) into NGX.

A statement from the exchange disclosed that the market indicators had their prefixes modified into NGX from the former NSE with effect from Monday, June 28, 2021.

There are currently 19 indices – either wholly-owned or co-branded – on NGX, servicing the investment management community along the lines of product development, benchmarking.

It was stated that the modification of the indicators is in line with NGX’s drive to standardise and ensure consistent expression of the brand across touchpoints.

Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.

The exchange explained that “this rebranding effort is a testament to NGX’s commitment to providing an efficient market that reflects available information” as it “continues to provide a platform for investors and issuers to meet their various investment objectives.”

As earlier stated, the recent demutualisation led to the transformation of the NSE to a non-operating holding company, Nigerian Exchange Group Plc.

Consequently, the group now has three wholly-owned operating subsidiaries: NGX, the operating exchange; NGX Regulation Limited (NGX RegCo), the independent regulation company; and NGX Real Estate Limited (NGX RelCo), the real estate company.

Below are the affected rebranded indices;

S/N Existing Name New Name
1 NSE All-Share Index (ASI) NGX All-Share Index (ASI)
2 NSE-Main Board Index NGX-Main Board Index
3 NSE 30 Index NGX 30 Index
4 NSE CG Index NGX CG Index
5 NSE Premium Index NGX Premium Index
6 NSE Banking Index NGX Banking Index
7 NSE Pension Index NGX Pension Index
8 NSE Insurance Index NGX Insurance Index
9 NSE ASeM Index NGX ASeM Index
10 NSE-AFR Bank Value Index NGX-AFR Bank Value Index
11 NSE AFR Div Yield Index NGX AFR Div Yield Index
12 NSE MERI Growth Index NGX MERI Growth Index
13 NSE MERI Value Index NGX MERI Value Index
14 NSE Consumer Goods Index NGX Consumer Goods Index
15 NSE Oil/Gas Index NGX Oil/Gas Index
16 NSE Lotus Islamic Index NGX Lotus Islamic Index
17 NSE Industrial Goods Index NGX Industrial Goods Index
18 NSE Growth Index NGX Growth Index
19 NSE Sovereign Bond Index NGX Sovereign Bond Index

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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