February 27, 2024/Futureview Research

The NGXASI declined by 1.38% today to close at 100,582.89pts, as selloffs in FBNH (-10.00%), MTNN (-9.94%) and UBA (-5.46%) drove the market into the red territory.

In the Fixed income space, the Treasury Bills secondary market closed flat, as we observed tepid sentiment across the curve, consequently Average T-Bills yield remained unchanged to close at 16.63%. However, the FGN Bond market traded on a bearish note as the Average FGN Bond yields slightly increased by 1bp to close at 16.83%.

At the NAFEM window, the Naira weakened by 2.08% to close at NGN 1,615.94/USD. Crude oil price (Brent) trended upwards by 0.81% to USD83.20pb.

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