July 25, 2024/InvestmentOne Report

The NGXASI declined by 0.21% today to close at 100,156pts, as the losses in ZENITHBANK (-2.57%), FBNH (-2.79%) and UBA (-2.78%) 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 long tenor instrument. Consequently, Average T-Bills yield increased by 5bps to close at 25.09%. Similarly, the FGN Bond market was bearish as the Average FGN Bond yield inched up by 1bp to close at 19.45%.

At the NAFEM window, the Naira weakened by 1.03% to close at NGN1,603.80/USD. Crude oil price (Brent) advanced by 0.35% to USD82.35pb.

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