August 1, 2024/InvestmentOne Report

The NGXASI declined by 0.42% today to close at 97,774.22pts, as the losses in OANDO (-8.00%), DANGSUGAR (-7.67%) and MTNN (-5.00%) 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 mid and long tenor instruments. Consequently, Average T-Bills yield rose by 14bps to close at 25.32%. Meanwhile, the FGN Bond market was positive as the Average FGN Bond yield narrowly fell to close at 19.76%.

At the NAFEM window, the Naira gained by 2.41% to close at NGN1,570.00/USD. Crude oil price (Brent) shrunk by 0.90% to USD80.11pb.

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