January 31, 2024/InvestmentOne Report

The NGXASI declined by 1.90% today to close at 101,154.13pts, as profit taking in MTNN (-4.39%), ZENITHBANK (-10.00%) and GTCO (-9.76%) drove the market into the red territory.

In the Fixed income space, the Treasury Bills secondary market closed down, majorly due to selloffs at the short and long end of the curve, as Average T-Bills yield rose by 22bps to 9.15%. Similarly, the FGN Bond market closed bearish as the Average FGN Bond yield advanced by 47bps to close at 14.49%.

At the NAFEM window, the Naira appreciated by 1.82% to close at NGN1,455.59/USD. Crude oil price (Brent) trended downward by 1.35% to USD81.75pb.

Kindly find below the full Financial Market Report.