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The Nigerian Exchange Limited (NGX) has released the outcome of its full-year 2025 market index review, confirming changes across several key equity indices.
According to information published by the Exchange, the revised indices took effect at the start of trading on Friday, January 2, 2026, following the conclusion of the annual review process.
Among the notable changes, Guinness Nigeria Plc, Presco Plc, and Wema Bank Plc were added to the major NGX indices, reflecting their improved market capitalisation, liquidity profiles, and overall performance during the year.
Stocks removed as indices rebalance
The new inclusions came at the expense of several companies, including United Capital Plc, Access Holdings Plc, International Breweries Plc, and Stanbic IBTC Holdings Plc, which were removed as part of the Exchange’s periodic rebalancing exercise.
The reshuffle highlights shifting dynamics within Nigeria’s equity market, as changes in valuation, trading activity, compliance requirements, and sector performance continue to influence index composition.
What the data shows
The index adjustments underscore movements in market capitalisation, liquidity depth, and sector relevance, factors that play a critical role in both passive and active investment strategies.
In the NGX 30 Index, which tracks the 30 most capitalised and liquid stocks on the Exchange, Guinness Nigeria Plc gained entry, replacing United Capital Plc. The inclusion signals stronger investor interest and improved trading activity in Guinness shares over the course of 2025.
Notably, Guinness Nigeria also emerged as the best-performing consumer goods stock in 2025, reinforcing its elevated status within the market.
Why does it matter?
NGX index reviews serve as important benchmarks for institutional investors, exchange-traded funds (ETFs), and portfolio managers who track index composition closely.
For both active and passive investors, the latest changes provide valuable insight into which stocks are gaining relevance and momentum, and which companies may be losing relative ground within Nigeria’s equity landscape.
As market conditions evolve, index rebalancing remains a key mechanism through which the NGX reflects underlying shifts in investor preference, sector strength, and corporate performance.
