July 24, 2024/InvestmentOne Report

The NGXASI declined by 0.12% today to close at 100,365.17pts, as the losses in UBA (-5.07%), DANGSUGAR (-3.70%) and FBNH (-1.60%) drove the domestic bourse into the negative region.

In the fixed income space, the Treasury Bills secondary market closed slightly positive, driven by the optimistic sentiment across the curve. Consequently, Average T-Bills yield decreased by 2bps to close at 25.04%. Meanwhile, the FGN Bond market was bearish as the Average FGN Bond yield inched up by 2bps to close at 19.44%.

At the NAFEM window, the Naira weakened by 2.45% to close at NGN1,586.71/USD. Crude oil price (Brent) advanced by 1.15% to USD81.94pb.

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