July 26, 2024/InvestmentOne Report

The NGXASI declined by 1.95% today to close at 98,201.49pts, as the losses in DANGCEM (-9.99%), GTCO (-1.68%) and ACCESSCORP (-2.63%) drove the domestic bourse into the negative region.

In the fixed income space, the Treasury Bills secondary market closed bearish today, driven by the selloffs observed in the short and mid tenor instruments. Consequently, Average T-Bills yield increased by 14bps to close at 25.23%. Elsewhere, the FGN Bond market was flat as the Average FGN Bond yield remained unchanged to close at 19.45%.

At the NAFEM window, the Naira weakened by 0.34% to close at NGN1,609.29/USD. Crude oil price (Brent) declined by 1.55% to USD81.09pb.

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