July 29, 2024/InvestmentOne Report

The NGXASI declined by 0.07% today to close at 98,132.15.49pts, as the losses in ZENITHBANK (-3.63%), FBNH (-2.62%) and TRANSCORP (-1.68%) drove the domestic bourse into the negative region.

In the fixed income space, the Treasury Bills secondary market closed bullish today, driven by the buy ins observed in the long tenor instruments. Consequently, Average T-Bills yield fell by 3bps to close at 25.20%. Elsewhere, the FGN Bond market was negative as the Average FGN Bond yield surged by 25bps to close at 19.70%.

At the NAFEM window, the Naira weakened by 0.13% to close at NGN1,611.40/USD. Crude oil price (Brent) declined by 2.07% to USD79.45pb.

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