July 15, 2024/InvestmentOne Report

The NGXASI advanced by 0.30% today to close at 99,971.64pts, as buy interest in ZENITHBANK (+5.26%), PRESCO (+3.79%) and MTNN (+1.50%) drove the domestic bourse into the positive terrain.
 
In the fixed income space, the Treasury Bills secondary market traded on a positive note as we observed buy pressure particularly on the short tenor instrument. Consequently, Average T-Bills yield declined by 3bps to close at 23.30%. Conversely, the FGN Bond market traded on a bearish note as the Average FGN Bond yield rose by 3bps to close at 19.29%.
 
At the NAFEM window, the Naira weakened by 0.86% to close at NGN1,577.29/USD. Crude oil price (Brent) settled lower by 0.02% to USD85.01pb.
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