July 30, 2024/InvestmentOne Report

The NGXASI shrunk by 0.31% today to close at 97,830.65pts, as the losses in UCAP (-9.92%), NESTLE (-9.78%) and UBA (-5.26%) 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 25.17%. Elsewhere, the FGN Bond market was negative as the Average FGN Bond yield climbed by 2bps to close at 19.72%.

At the NAFEM window, the Naira depreciated by 0.60% to close at NGN1,621.12/USD. Crude oil price (Brent) declined by 1.49% to USD78.59pb.

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