February 12, 2024/InvestmentOne Report

The NGXASI advanced by 0.18% today to close at 102,042.32pts, as investors buy interests in GEREGU (+6.75%), FIDELITYBK (+4.11%) and BUAFOODS (+1.05%) drove the market into the green zone.

In the Fixed income space, the Treasury Bills secondary market closed bullish, largely driven by buy ins across all tenors, as Average T-Bills yield fell by 4bps to 15.31%. Meanwhile, the FGN Bond market closed bearish as the Average FGN Bond yields rose by 5bps to close at 15.54%.

At the NAFEM window, the Naira depreciated by 4.72% to close at NGN1,539.39USD. Crude oil price (Brent) trended downward by 0.43% to USD81.84pb.