July 22, 2024/InvestmentOne Report

The NGXASI advanced by 0.03% today to close at 100,568.60pts, as gains in JBERGER (+5.71%), ETI (+1.85%) and ZENITHBANK (+1.35%) drove the domestic bourse into the green zone.

In the fixed income space, the Treasury Bills secondary market closed bullish, largely due to buy-ins across the curve. Consequently, Average T-Bills yield declined by 5bps to close at 24.84%. Meanwhile, the FGN Bond market traded on negative note as the Average FGN Bond yield inched up by 1bp to close at 19.41%.

At the NAFEM window, the Naira strengthened by 6.05% to close at NGN1,500.32/USD. Crude oil price (Brent) declined by 0.33% to USD82.36pb.

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