July 4, 2024/InvestmentOne Report

The NGXASI declined by 0.23% today to close at 100,063.32pts, as the losses observed MTNN (-6.54%), WAPCO (-1.41%) and CHAMPION (-6.00%) drove the local bourse into the negative territory.

In the fixed income space, the Treasury Bills secondary market traded on a negative note, driven by the bearish sentiment seen across the curve. Consequently, Average T-Bills yield advanced by 28bps to close at 22.48%. Similarly, the FGN Bond market traded on a flattish note. As such, the Average FGN Bond yield remained unchanged to close at 18.76%.

At the NAFEM window, the Naira depreciated by 0.50% to close at NGN1,520.24/USD. Crude oil price (Brent) advanced by 0.23% to USD87.54pb.

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