February 14, 2024/InvestmentOne Report

The NGXASI advanced by 1.76% today to close at 103,498.28pts, as optimism grew around AIRTELAFRI (+10.00%), SEPLAT (+9.61%) and BUAFOODS (+7.02%) pushing the market into the positive region.

In the Fixed income space, the Treasury Bills secondary market closed bearish, largely driven by selloffs across mid and long tenors, as Average T-Bills yield rose by 8bps to 15.23%. In line, the FGN Bond market closed negative as the Average FGN Bond yields climbed by 9bps to close at 15.85%.

At the NAFEM window, the Naira depreciated by 0.29% to close at NGN1,503.38/USD. Crude oil price (Brent) trended downwards by 1.08% to USD81.88pb.

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