February 9, 2024/InvestmentOne Report

The NGXASI advanced by 0.62% today to close at 101,858.37pts, as investors buy interests in GEREGU (+9.92%), DANGSUGAR (+4.35%) and TRANSCORP (+6.64%) 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 mid and long tenor instruments, as Average T-Bills yield increased by 74bps to 15.35%. Similarly, the FGN Bond market closed bullish as the Average FGN Bond yields declined by 9bps to close at 15.49%.

At the NAFEM window, the Naira appreciated by 0.64% to close at NGN1,469.97/USD. Crude oil price (Brent) trended downward by 0.32% to USD81.89pb.

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