February 6, 2024/InvestmentOne Report
The NGXASI declined by 1.50% today to close at 102,108.05pts, as investors sell down in BUACEMENT (-10.00%), UBA (-5.70%) and ZENITHBANK (-3.10%) drove the market into the red zone.
In the Fixed income space, the Treasury Bills secondary market closed bearish, largely driven by selloffs across all instruments, as Average T-Bills yield increased by 206bps to 11.91%. Similarly, the FGN Bond market closed bearish as the Average FGN Bond yield rose by 3bps to close at 15.32%.
At the NAFEM window on the 5th of February 2024, the Naira appreciated by 1.09% to close at NGN1,419.86/USD. Crude oil price (Brent) trended upward by 1.01% to USD78.78pb.
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