January 17, 2024/InvestmentOne Report

The NGXASI advanced by 2.38% today to close at 90,063.27pts, as investors buy interest in BUACEMENT (+9.99%), DANGCEM (+9.86%) and GEREGU (+9.49%) drove the market into the green zone.

In the Fixed income space, the Treasury Bills secondary market closed flat, driven by the tepid performance seen across all tenors of the curve, as Average T-Bills yield remained unchanged to 3.28%. Meanwhile, the FGN Bond market closed bearish as the Average FGN Bond yield climbed higher to close at 13.53%.

At the NAFEM window, the Naira weakened by 5.65% to close at NGN931.23/USD. Crude oil price (Brent) fell by 1.47% to USD77.14pb.

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