NSE, Afrinvest Unveil New Indices to Optimise Investors Returns

Image

By Modupe Gbadeyanka

Two new factor indices have been launched by the Nigerian Stock Exchange (NSE) and Afrinvest Securities Limited (ASL).

A statement from the NSE disclosed that the new indices, NSE-Afrinvest Banking Value Index (NSE-Afr BVI) and NSE-Afrinvest High Dividend Yield Index (NSE-Afr HDYI) will be available real-time on both NSE and Afrinvest WA websites from Monday, January 21, 2019.

It was explained that the two indices were designed in response to requests for applicable benchmarks for measuring value in banking stocks and high dividend stocks listed on the local exchange.

They will serve as tools for investment managers and corporate treasuries seeking appropriate benchmarks to evaluate the performance of their portfolios to a segment of the banking sector or high dividend orientation as applicable. The indices can also be used as the performance target in index-replicating financial products such as Exchange Traded Funds and Derivatives.

The NSE-Afr BVI and the NSE-Afr HDYI as with all other NSE indices will align with the NSE’s index committee’s governance standards. Guidelines and methodologies for the indices are publicly available on the website of NSE and Afrinvest. 

On the launch of the indices, CEO of NSE, Mr Oscar Onyema, remarked that, “In view of rising demand for financial products that adequately meet the needs of market participants, particularly investors, the NSE is pleased to collaborate with Afrinvest West Africa on these novel index strategies.

“The indices consider the fundamentals of underlying securities. We commend Afrinvest for its product innovation and for leveraging the Exchange’s Index calculation and management expertise.”

“The Exchange is committed to driving sustainability of our marketplace and supporting investable product creation endeavours by stakeholders to enhance the depth of the market. We will continue to welcome innovative solutions to identifiable gaps in the capital market,” he added.

Group Managing Director of Afrinvest West Africa, Mr Ike Chioke, said at the unveiling that, “Afrinvest West Africa is proud and excited at the rollout of the new indices in collaboration with the NSE. “It is our belief that this partnership will serve as a veritable proponent for more forward-thinking initiatives meeting market needs. On the back of these indices, investors will now enjoy the benefits of proxies that seek out dividend-paying stocks and value-oriented banking stocks listed in Nigeria,” he added.

Share
Related Stories
Image
01-March-2024

Transcorp Power to List Shares on Nigerian Exchange March 4

By Dipo Olowookere Another power generating company will join Geregu Power Plc on the Nigerian Exchange (NGX) Limited, Business Post has gathered. The new firm joining the nation’s flagship stock exchange is Transcorp Power Plc, a company owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu. Information reaching this newspaper is that Transcorp Power is listing its shares on the NGX by introduction on Monday, March 4, 2024. The organisation is taking to the stock market about 7,500,000,000 units of its equities at N240.00 each, increasing the total value of the local equity market by N1.8 trillion. Its

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
29-February-2024

MasterCard, MTN Partner to Boost Digital Commerce, Payments

By Aduragbemi Omiyale A partnership aimed at driving acceleration of the mobile money ecosystem in Africa across 13 markets has been entered into between Mastercard and MTN Group Fintech. This is coming shortly after the payments giant completed the purchase of a minority stake in the telecommunications company. The deal will see Mastercard giving a prepaid virtual card tailored for MTN’s MoMo customers, granting them access to over 100 million acceptance points worldwide. Additionally, it will empower MoMo merchants to seamlessly accept card payments, enhancing the platform’s instant cross-border money remittance services and capabilities. Further, Mastercard will use its cutting-edge

Image
01-March-2024

Oil Down as US Inflation Signals Weak Crude Demand

By Adedapo Adesanya  Oil was down on Thursday as inflation data in the United States implied a softening of the world’s biggest economy that could weaken crude demand. Brent futures went down by 6 cents to $83.62 a barrel and the US West Texas Intermediate (WTI) futures depreciated by 28 cents to $78.26 a barrel. The US Federal Reserve’s preferred inflation gauge, the US Personal Consumption Expenditures (PCE) index, showed January inflation in line with economists’ expectations. The index rose 0.3 per cent last month, the Commerce Department’s Bureau of Economic Analysis said. Data for December was revised lower to

More Stories
Image
04-July-2019

Lagos to Refund N141,000 to Hajj Pilgrims

By Dipo Olowookere The Lagos State government has announced its intention to refund the sum of N141,000 to each of pilgrims going for the Hajj in Mecca, Saudi Arabia from the state. A statement issued by the state government yesterday disclosed that the refund was in line with the recommendation of the National Hajj Commission (NAHCOM), the agency in charge of pilgrimage to Mecca in Nigeria. It was stated that the development followed the review of the cost of the pilgrimage by the commission, which led to the reduction of the fare already paid by the pilgrims across the nation.

Image
20-October-2017

Agric will Produce Africa’s Next Billionaires—AfDB

** Makes Case for Young Farmers By Dipo Olowookere If the world can support young farmers in Africa, the problem of youth employment plaguing the continent would be solved. That was the submission of the African Development Bank (AfDB), which wants global support for Africa’s young farmers and “agripreneurs”, highlighting how agribusiness can achieve this goal. In collaboration with the Initiative for Global Development, the Association of African Agricultural Professionals in the Diaspora (AAAPD), Michigan State University, Iowa State University, and the International Institute of Tropical Agriculture, the AfDB brought together stakeholders to discuss how to expand economic opportunities for

Image
10-April-2018

Asian Equities Recover from Weak Start as Xi Moves to Lower Tarrifs on US Goods

By Investors Hub Asian stocks recovered from a weak start to close broadly higher on Tuesday after Chinese President Xi Jinping promised to lower import tariffs on products including cars and take other steps to further open the world’s second-largest economy, helping soothe investor jitters over an escalating trade dispute with the United States. China’s Shanghai Composite Index jumped 52.36 points or 1.7 percent to close at 3,190.65 after Xi sought to defuse trade tensions with the U.S. by lifting limits of foreign investment in automobile and aircraft industries. Hong Kong’s Hang Seng index surged up 499.16 points or 1.7

Image
03-March-2020

Crude Oil to Rally This Week as OPEC+ Meets

By Adedapo Adesanya Last week saw major crude futures, Brent Crude and West Texas Intermediate (WTI), closing below $50 per barrel, signalling the worst performance for the commodity in four years as as result of fears raised by COVID-19, which has caused global recession worries and lower oil demand. Last week, the Brent was sold for $49 per barrel, while WTI went for $44 per barrel. However, analysts see a bright cloud this week at the oil market as it is believed that the lower prices could spur speculators, professionals and aggressive counter-trend buyers to action and will lead to

Image
22-December-2021

e-Customs Project to Become Operational 2022—NCS

By Adedapo Adesanya The Nigeria Customs Service (NCS) said its digital platform called the e-customs project will become operation in 2022, noting that this will help in verifying the authenticity of documents by enforcement officers on patrol. Speaking at a press conference in Lagos, the NCS National Public Relation Officer, Mr Timi Bomadi, this app will eliminate delays in verifying genuine Customs documents on our highways making it difficult for forgers to get away with their illegal acts, while easing the journeys of law abiding citizens. He further stated that the service is also facilitating trade at ports and border

Image
10-March-2017

I’m Now Fully Ready to Lead Nigeria to Success—Buhari

By Dipo Olowookere President Muhammadu Buhari has expressed his readiness to rededicate himself to the service of the nation after returning from a medical vacation in London on Friday. Addressing his countrymen on Friday from the State House, shortly after his return, President Buhari said he was fully committed to serving the nation and protecting the right of all Nigerians. He expressed gratitude to Nigerians for all the prayers and show of goodwill, saying, “I am deeply grateful to all Nigerians, Muslims and Christians alike who have prayed and have continued to pray for my good health. “This is a

Image
20-June-2023

Highlights of Favourite TV Shows Airing This June on GOtv

From the highly anticipated Level Up Big Brother Season 7 reunion to the love-seeking adventure of What Will People Say? and electrifying Nigerian Idol performances, here’s a recap of some of our favourite television programmes that aired over the weekend and during the course of the week on GOtv: Big Brother Naija Reunion The Level Up reunion of Big Brother Season 7 commenced on Monday, June 19th. The reunion began with a recap of the housemates’ trip to South Africa earlier this year, sponsored by MultiChoice and Pepsi Nigeria. During the trip, the housemates enjoyed activities such as wine tasting,

Image
18-November-2016

$660m: CBN Publishes List Of Beneficiary Banks

By Modupe Gbadeyanka The Central Bank of Nigeria (CBN) has released the list of beneficiary banks that received the $660 million it disbursed to the manufacturing sector through the interbank market over a one month period. The list shows that the banks received a total of $660,173,976.46. Following claims in some quarters that manufacturers were finding it difficult accessing forex, Acting Director, Corporate Communications Department, CBN, Mr Isaac Okorafor, a fortnight ago, had revealed that $660 million was made available to the manufacturers through the interbank market to source for raw materials and spare parts to boost production capacity over

Ad
Ad
Recent Stories
Image
02-March-2024

Endosurvivors Foundation Set For Another Endometriosis Awareness

By Adedapo Adesanya EndoSurvivors International Foundation (ESIF), an NGO championing endometriosis awareness in Nigeria, has announced its upcoming events in commemoration of the Global Endometriosis Advocacy Month in March, fondly tagged March4Endo by advocates all over the world.  Endometriosis is a chronic and inflammatory condition that affects approximately 1 in 10 girls and women in Nigeria and on a global scale. This sums up to about 190 million affected girls/women around the world, about the population of Nigeria in 2018.  The World Health Organisation (WHO) recognizes that endometriosis has significant social, public health, and economic implications leading to a decrease

Image
02-March-2024

CSCS, FrieslandCampina Lift NASD OTC Bourse by 0.31%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive territory after it gained 0.31 per cent on Friday, March 1, thanks to the duo of Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc. CSCS Plc added 81 Kobo to its value to sell for N19.46 per unit compared with the preceding day’s N18.65 per unit, and FrieslandCampina improved by N1.15 to settle at N71.4o per share, in contrast to Thursday’s closing price of N70.25 per share. However, Aradel Holdings Plc continued its price depreciation yesterday as it shed N6.75 to sell at N2,395.00

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
02-March-2024

Crude Oil Jumps 2% as Traders Sight Possible OPEC+ Cuts

By Adedapo Adesanya Crude oil appreciated by about 2 per cent on Friday as traders awaited a decision from the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on supply agreements for the second quarter. Yesterday, the price of Brent futures went up by $1.64 or 2 per cent to $83.55 per barrel and the US West Texas Intermediate (WTI) futures rose by $1.71 or 2.19 per cent to $79.97 a barrel. For the week, Brent added around 2.4 per cent while WTI gained more than 4.5 per cent. Analysts noted that the expectation that OPEC+ is going to

Image
02-March-2024

NGX Indices Nosedive by 1.23% as Traders Resume Profit-Taking

By Dipo Olowookere The bears made a quick return to the Nigerian Exchange (NGX) Limited after leaving the stage for the bulls for a day as investors reassessed the impact of the hike in the benchmark interest rate by the Central Bank of Nigeria (CBN) on Tuesday on their investments. On Friday, the key performance indicators of the bourse closed lower by 1.23 per cent as a result of renewed selling pressure, especially in the energy and industrial goods sectors. Business Post reports that at the close of transactions on the first trading session of March 2024, the industrial goods

Image
01-March-2024

CBN Revokes Operational Licences of 4,173 BDC Operators [FULL LIST]

By Aduragbemi Omiyale The operational licences of 4,173 Bureaux De Change (BDC) operators have been revoked by the Central Bank of Nigeria (CBN). A statement signed by the acting Director of the Corporate Communications Department of the apex bank, Mrs Hakama Sidi Ali, on Friday disclosed that the action was taken because the affected BDCs did not adhere to regulatory provisions. The central bank said the BDCs did not pay all necessary fees, including licence renewal, within the stipulated period in line with guidelines. It also said they failed to give account of returns in line with the guidelines, and

Image
01-March-2024

BREAKING: Popular Yoruba Comic Actor Sisi Quadri Dies

By Modupe Gbadeyanka A popular Yoruba comic actor, Mr Tolani Quadri Oyebamiji, otherwise known as Sisi Quadri, has died, according to reports. However, the cause of his death is still unclear as of the time of filing this report. There are speculations that he briefly fell ill before his passing, though he was seen publicly some months ago with a fellow comic actor, Sanusi Izihaq, who is well-known as Apa or Apankufor. Sisi Quadri, who died at the age of 44, was recently gaining fresh public attention with his comic act with Apa and others. His demise has hit the

Image
01-March-2024

Transcorp Power to List Shares on Nigerian Exchange March 4

By Dipo Olowookere Another power generating company will join Geregu Power Plc on the Nigerian Exchange (NGX) Limited, Business Post has gathered. The new firm joining the nation’s flagship stock exchange is Transcorp Power Plc, a company owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu. Information reaching this newspaper is that Transcorp Power is listing its shares on the NGX by introduction on Monday, March 4, 2024. The organisation is taking to the stock market about 7,500,000,000 units of its equities at N240.00 each, increasing the total value of the local equity market by N1.8 trillion. Its

Image
01-March-2024

Risevest Suspends Crypto Payment as Clampdown Intensifies

By Adedapo Adesanya Foreign stocks trading and investment firm, Risevest, has voluntarily announced a temporary suspension of cryptocurrency assets in Nigeria until the current wave of clampdown on operations settles. In a notice sent to customers on Friday and seen by Business Post, the platform said users won’t be able to fund their wallets using cryptocurrency as it allowed. The company revealed that it noticed that there has been an uptick in funding and possible gaming of the system, and warned against this. “We’re temporarily suspending crypto funding on Rise for users in Nigeria, pending clarity on the regulatory landscape.

Image
01-March-2024

Foreign Capital Into Nigeria’s Energy Industry Plunges 42.8% to $3.64bn in 2023

By Adedapo Adesanya Foreign capital inflows, which gauges the level of foreign investment into the country, through the Nigerian oil and gas industry in 2023 dropped by 42.8 per cent to $3.64 million from the $6.37 million recorded in 2022. This is contained in the latest data obtained from the Nigeria capital importation report for the fourth quarter of 2023 released recently by the National Bureau of Statistics (NBS). The NBS revealed that total foreign capital inflow into the oil and gas sector in 2023 accounted for 0.09 per cent of total foreign capital inflow into the Nigerian economy in