February 23, 2024/InvestmentOne Report

The NGXASI advanced by 0.84% today to close at 102,088.30pts, as the buy-interests observed in BUAFOODS (+6.27%), FBNH (+6.90%) and TRANSCORP (+3.59%) drove the market into the green zone.

In the Fixed income space, the Treasury Bills secondary market closed upwards, as yields declined across the short tenor, Average T-Bills yield was down by 4bp to close at 16.67%. Similarly, the FGN Bond market traded on a tepid note as the Average FGN Bond yields remained unchanged to close at 16.80%.

At the NAFEM window, the Naira depreciated by 5.99% to close at NGN 1,665.50/USD. Crude oil price (Brent) decreased by 2.25% to USD81.79pb.

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