NGXASI Declines -0.37%, Dragged by Banking Counters

NGX Building: Image Credit: NGX

May 24, 2024/InvestmentOne Report

The NGXASI declined by 0.37% today to close at 97,612.51pts, as selloffs in the shares of FBNH (-9.31%), ETI (-9.98%) and UBA (-4.00%) drove the Nigerian equities market into the negative territory.

In the fixed income space, the Treasury Bills secondary market closed positive, largely due to buy pressure across all tenors. Consequently, Average T-Bills yield moderated by 1bp to close at 21.97%. Likewise, the FGN Bond market traded on a positive note as the Average FGN Bond yield declined by 3bps to 18.67%.

At the NAFEM window, the Naira closed at NGN 1,485.66/USD as of yesterday. Crude oil price (Brent) edged higher by 1.02% to USD82.19pb.

Kindly find below the full Financial Market Report.

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