July 10, 2024/InvestmentOne Report

The NGXASI traded on a flattish note today to close at 99,802.08pts, as the selloffs on ZENITHBANK (-1.20%), GTCO (-0.88%) and UBA (-1.30%) offset the gains recorded in DANGSUGAR (+2.82%), TRANSCORP (+2.48%) and FIDELITYBK (+2.94%).

In the fixed income space, the Treasury Bills secondary market exhibited a slightly positive performance as yields decreased across the benchmark curve. Consequently, Average T-Bills yield fell by 3bps to close at 23.46%. However, the FGN Bond market traded on a bearish note as the Average FGN Bond yield rose by 16bps to close at 18.94%.

At the NAFEM window, the Naira depreciated by 1.92% to close at NGN1,561.98/USD. Crude oil price (Brent) increased by 1.03% to USD85.53pb.

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