July 19, 2024/InvestmentOne Report

The NGXASI advanced by 0.04% today to close at 100,539.40pts, as gains in FCMB (+3.25%), MTNN (+1.99%) and FIDELITYBK (+1.42%) drove the domestic bourse into the green zone.

In the fixed income space, the Treasury Bills secondary market closed bearish, largely due to selloffs across the curve. Consequently, Average T-Bills yield increased by 136bps to close at 24.89%. Likewise, the FGN Bond market traded on negative note as the Average FGN Bond yield inched up by 4bps to close at 19.41%.

At the NAFEM window, the Naira weakened by 1.92% to close at NGN1,596.92/USD. Crude oil price (Brent) settled lower by 1.66% to USD83.70pb.

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