NGXASI Declines -0.03%, Dragged by GTCO, NEM, Transcorp Hotels

May 17, 2024/InvestmentOne Report

The NGXASI declined by 0.03% today to close at 98,125.73pts, as the negative sentiment on TRANSCOHOT (-9.72%), NEM (-9.63%) and GTCO (-0.25%) propelled the market into the red zone.

In the fixed income space, the Treasury Bills secondary market traded on a bullish note as yields declined at the long end of the curve. Consequently, Average T-Bills yield shrank by 21bps to close at 22.17%. However, the FGN Bond market traded on a slightly negative note as the Average FGN Bond yield inched up by 1bp to close at 18.74%.

At the NAFEM window, the Naira depreciated by 2.63% to close at NGN 1,497.33/USD. Crude oil price (Brent) increased by 0.28% to USD83.50pb.

Kindly find below the full Financial Market Report.

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