August 8, 2024/InvestmentOne Report

The NGXASI advanced by 1.03% today to close at 98,118.30pts, as the bullish momentum on MTNN (+10.00%), OANDO (+9.97%) and ZENITHBANK (+2.70%) pushed the local bourse into the positive terrain.

In the fixed income space, the Treasury Bills secondary market traded on a positive note today as yields declined across the benchmark curve amid buying interest from investors. As such, Average T-Bills yield contracted by 6bps to close at 26.03%. However, the FGN Bond market exhibited a bearish performance as the Average FGN Bond yield rose by 25bps to close at 20.13%.

At the NAFEM window, the Naira appreciated by 0.18% to close at NGN1,593.62/USD. Crude oil price (Brent) rose by 0.45% to USD78.68pb..

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