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Capital Market: NGX Re-brands Indices

The Nigerian Exchange Limited (NGX) has announced the re-branding of all its existing indices by changing the prefix from NSE to NGX.

The transition, which is effective Monday, 28 June 2021, leverages on the new brand identity of the Exchange.

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

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

Below are the changes to the indices classification:


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

The recent demutualisation led to the transformation of The Nigerian Stock Exchange to a non-operating holding company, Nigerian Exchange Group Plc. (NGX Group). Consequently, The Group now has three wholly-owned operating subsidiaries, namely: Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX RegCo), the independent regulation company; and NGX Real Estate Limited (NGX RelCo), the real estate company.

According to the Exchange, the rebranding of the indices is in line with NGX’s drive to standardise and ensure consistent expression of the brand across touch points. “From today, all indices from Nigerian Exchange Limited will be rebranded with a pre-fix, NGX, to promote brand awareness and recognition. Market players should however note that this exercise will not affect the computation methodology of the indices.”

“As NGX continues to provide a platform for investors and issuers to meet their various investment objectives, this rebranding effort is a testament to NGX’s commitment to providing an efficient market that reflects available information.” A statement from the Exchange read.

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