January 22, 2024/InvestmentOne Report

The NGXASI advanced by 1.30% today to close at 95,768.12pts, as investors buy interest in DANGCEM (+9.99%), UNILEVER (+7.96%) and FCMB (+2.36%) drove the market into the green zone.

In the Fixed income space, the Treasury Bills secondary market closed downwards, driven by the bearish performance seen along the short and mid end of the curve, as Average T-Bills yield rose by 47bps to 3.87%. Elsewhere, the FGN Bond market closed up as the Average FGN Bond yield fell by 1bp to close at 13.55%.

At the NAFEM window, the Naira weakened by 2.47% to close at NGN925.34/USD. Crude oil price (Brent) rose by 1.44% to USD79.69pb.

Kindly find below the full Financial Market Report.