July 16, 2024/InvestmentOne Report

The NGXASI advanced by 0.10% today to close at 100,075.59pts, as advancements in the share price of UCAP (+10.00%), ZENITHBANK (+2.56%) and FBNH (+1.11%) drove the local bourse into the green zone.

In the fixed income space, the Treasury Bills secondary market traded on a positive note as we observed buy pressure across the curve. Consequently, Average T-Bills yield declined by 2bps to close at 23.28%. However, the FGN Bond market traded on a quiet note as the Average FGN Bond yield remained unchanged to close at 19.29%.

At the NAFEM window, the Naira appreciated by 0.04% to close at NGN1,576.66/USD. Crude oil price (Brent) settled lower by 0.91% to USD84.08pb.

Kindly find below the full Financial Market Report.