NGXASI Advance +0.40%, Driven by Blue Chips

NGX Building: Image Credit: NGX

March 6, 2024/InvestmentOne Report

The NGXASI advanced by 0.40% today to close at 99,591.64pts, as the buy-interest in FBNH (+9.95%), TRANSCORP (+9.96%) and FIDELITYBK (+5.03%) drove the market into the green zone.

In the Fixed income space, the Treasury Bills secondary market closed bearish, as there were significant selloffs observed in the long end of the curve, consequently Average T-Bills yield increased by 36bps to close at 17.56%. Similarly, the FGN Bond market traded on a bearish note as the Average FGN Bond yields rose by 4bps to close at 17.35%.

At the NAFEM window, the Naira depreciated by 0.21% to close at NGN 1,605.74/USD. Crude oil price (Brent) increased by 2.08% to USD83.75pb.

Kindly find below the full Financial Market Report.

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