February 16, 2024/InvestmentOne Report

The NGXASI advanced by 1.56% today to close at 105,722.78pts, as optimism grew around BUAFOODS (+10.00%), GEREGU (+9.90%) and FBNH (+7.69%) pushing the market into the positive region.

In the Fixed income space, the Treasury Bills secondary market closed bearish, largely driven by selloffs across all tenors, as Average T-Bills yield rose by 44bps to 15.47%. In, the FGN Bond market closed negative as the Average FGN Bond yields climbed by 2bps to close at 16.12%.

At the NAFEM window, the Naira depreciated by 2.65% to close at NGN1,437.96/USD. Crude oil price (Brent) trended upwards by 0.68% to USD83.42pb.

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