March 1, 2024/InvestmentOne Report

The NGXASI declined by 1.23% today to close at 98,751.98pts, as selloffs in BUACEMENT (-10.00%), MTNN (-9.96%) and FIDELITYBK (-3.85%) drove the market into the red territory.

In the Fixed income space, the Treasury Bills secondary market closed down, as bearish sentiment was observed on the short tenor instrument, consequently Average T-Bills yield increased by 33bps to close at 17.24%. Similarly, the FGN Bond market traded on a bearish note as the Average FGN Bond yields advanced by 3bps to close at 17.25%.

At the NAFEM window, the Naira appreciated by 2.94% to close at NGN 1,548.25/USD. Crude oil price (Brent) edged higher by 2.50% to USD83.96pb.

Kindly find below the full Financial Market Report.