July 17, 2024/InvestmentOne Report

The NGXASI declined by 0.04% today to close at 100,032.32pts, as losses in MTNN (-3.40%), DANGSUGAR (-1.44%) and GTCO (-0.22%) drove the domestic bourse into the red zone.

In the fixed income space, the Treasury Bills secondary market closed bearish, majorly driven by selloffs at the short end of the curve. Consequently, Average T-Bills yield increased by 16bps to close at 23.44%. Likewise, the FGN Bond market traded on negative note as the Average FGN Bond yield marginally inched higher by 1bp to close at 19.30%.

At the NAFEM window, the Naira weakened by 0.32% to close at NGN1,581.65/USD. Crude oil price (Brent) edged higher by 1.40% to USD84.90pb.

Kindly find below the full Financial Market Report.