February 5, 2024/InvestmentOne Report

The NGXASI declined by 0.73% today to close at 103,659.81pts, as investors sell down in MTNN (-5.52%), ACCESSCORP (-3.70%) and FIDELITYBK (-9.37%) drove the market into the red 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 19bps to 9.85%. Similarly, the FGN Bond market closed bearish as the Average FGN Bond yield rose by 52bps to close at 15.27%.

At the NAFEM window, the Naira appreciated by 1.09% to close at NGN1,419.86/USD. Crude oil price (Brent) trended upward by 0.13% to USD77.43pb.

Kindly find below the full Financial Market Report.