July 31, 2024/InvestmentOne Report

The NGXASI fell by 0.06% today to close at 97,774.22pts, as the losses in NB (-9.82%), UCAP (-8.96%) and ZENITHBANK (-2.22%) 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 tenor instruments. Consequently, Average T-Bills yield fell by 1bp to close at 25.18%. Similarly, the FGN Bond market was negative as the Average FGN Bond yield climbed by 4bps to close at 19.76%.

At the NAFEM window, the Naira gained by 0.76% to close at NGN1,608.73/USD. Crude oil price (Brent) rose by 2.66% to USD80.72pb.

Kindly find below the full Financial Market Report.