MTNN, NASCON Drags NGXASI to -0.16% Loss

NGX Building: Image Credit: NGX

June 11, 2024/InvestmentOne Report

The NGXASI declined by 0.16% today to close at 99,630.51pts, as the bearish bias in MTNN (-4.04%), ETI (-2.47%) and NASCON (-9.91%) drove the market into the red zone.

In the fixed income space, the Treasury Bills secondary market exhibited a positive performance, as yields retraced across the curve. Consequently, Average T-Bills yield moderated by 3bps to close at 21.93%. However, the FGN Bond market traded on a tepid note as the Average FGN Bond yield closed flat at 18.75%.

At the NAFEM window, the Naira appreciated by 0.67% to close at NGN 1,473.66/USD. Crude oil price (Brent) rose by 0.48% to USD82.02pb.

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