NGXASI Declines -0.12%, Dragged by Banking Counters

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June 4, 2024/InvestmentOne Report

The NGXASI declined by 0.12% today to close at 99,051.02pts, as the sell-interests observed in UBA (-4.11%), ZENITHBANK (-3.03%) and FBNH (-1.57%) drove the local bourse into the negative territory.

In the fixed income space, the Treasury Bills secondary market was bullish at today’s close, as yields decreased across all tenors. Consequently, Average T-Bills yield declined by 13bps to close at 21.69%. Elsewhere, the FGN Bond market traded on a negative note as the Average FGN Bond yield increased by 1bp to close at 18.70%.

At the NAFEM window, the Naira depreciated by 0.06% to close at NGN 1,476.95/USD. Crude oil price (Brent) declined by 0.86% to USD77.69pb.

Kindly find below the full Financial Market Report.

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