August 7, 2024/InvestmentOne Report

The NGXASI advanced by 0.20% today to close at 97,119.03pts, as the gains printed in OANDO (+9.98%), FBNH (+4.60%) and GTCO (+1.47%) drove the domestic equities market into the green zone.

In the fixed income space, the Treasury Bills secondary market exhibited a bearish performance today on the back of the selloffs by investors across the benchmark curve. As such, Average T-Bills yield expanded by 33bps to close at 26.09%. However, the FGN Bond market traded on a tepid note as the Average FGN Bond yield closed flat at 19.88%.

At the NAFEM window, the Naira strengthened by 0.28% to close at NGN1,596.52/USD. Crude oil price (Brent) jumped by 2.94% to USD78.73pb.

Kindly find below the full Financial Market Report.