February 2, 2024/InvestmentOne Report

The NGXASI advanced by 1.57% today to close at 104,421.23pts, as investors buy interest in MTNN (+5.45%), FBNH (+9.85%) and ACCESSCORP (+8.22%) drove the market into the green zone.

In the Fixed income space, the Treasury Bills secondary market closed bearish, largely driven by selloffs on the short and mid tenor instruments, as Average T-Bills yield increased by 61bps to 9.66%. Similarly, the FGN Bond market closed bearish as the Average FGN Bond yield rose by 22bps to close at 14.77%.

At the NAFEM window, the Naira appreciated by 1.80% to close at NGN1,435.53/USD. Crude oil price (Brent) trended downward by 1.73% to USD77.34pb.

Kindly find below the full Financial Market Report.