August 6, 2024/InvestmentOne Report

The NGXASI declined by 0.67% today to close at 96,928.52pts, as the losses recorded on BUACEMENT (-9.99%), TRANSCORP (-1.82%) and GTCO (-1.44%) drove the market into the negative territory.

In the fixed income space, the Treasury Bills secondary market traded on a bearish note today driven by the sell pressure noticed across the short and mid tenor maturities. Consequently, Average T-Bills yield increased by 21bps to close at 25.76%. Meanwhile, the FGN Bond market was slightly negative as the Average FGN Bond yield inched up by 1bp to close at 19.88%.

At the NAFEM window, the Naira appreciated by 0.38% to close at NGN1,601.00/USD. Crude oil price (Brent) rose by 0.89% to USD76.98pb.

Kindly find below the full Financial Market Report.