February 7, 2024/InvestmentOne Report

The NGXASI remained unchanged today to close at 102,106.31pts, as investors selloffs in DANGSUGA (-5.63%), ZENITHBANK (-1.87%) and GTCO (-1.75%) offset the buy interests in BUAFOODS (+3.82%), INTBREW (+3.65%) and OANDO (3.03%).

In the Fixed income space, the Treasury Bills secondary market closed bearish, largely driven by selloffs on the mid tenor instruments, as Average T-Bills yield increased by 18bps to 12.10%. Elsewhere, the FGN Bond market closed flat as the Average FGN Bond yield were unchanged to close at 15.30%.

At the NAFEM window, the Naira appreciated by 1.05% to close at NGN1,418.78/USD. Crude oil price (Brent) trended downward by 0.67% to USD79.12pb.

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