BUA Foods Plc and Wema Bank Plc have joined the most capitalised stocks index on the Nigerian Exchange (NGX) Limited.

The NGX announced the results of its full-year market index review for the following indices; the NGX 30, NGX Lotus Islamic, NGX Pension, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, 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.

The review has led to the entry and exit of some companies from several indices that took effect at the opening of the market on January 3, 2023.

BUA Foods and Wema Bank were added to the NGX 30 Index, while Oando and Union Bank were removed.

Also, NGX Oil & Gas index saw the entrance of MRS Oil Nigeria Plc, while NGX Pension index has Airtel Africa and BUA Foods coming in. NGX Lotus Islamic index welcomed CAP Plc, while Nigerian Aviation Handling Company (NAHCO), NASCON Allied Industries and Presco Plc exited.

Fidson Healthcare, Nigeria Breweries and Sterling Bank were added to Meristem Growth index, while Access Holding, GlaxoSmithKline Consumer Nigeria, May & Baker Nigeria and Lafarge Africa joined Meristem Value index.

SOURCE: LEADERSHIP