August 9, 2024/InvestmentOne Report

The NGXASI advanced by 0.50% today to close at 98,605.79pts on the back of the gains seen on UBA (+7.98%), OANDO (+9.88%) and MTNN (+0.91%) which propelled the market into the green zone.

In the fixed income space, the Treasury Bills secondary market traded on a bullish note today as yields decreased across the benchmark curve amidst buying pressure from investors. Thus, Average T-Bills yield shrank by 23bps to close at 25.80%. Similarly, the FGN Bond market traded on a positive note as the Average FGN Bond yield fell by 8bps to close at 20.05%.

At the NAFEM window, the Naira strengthened by 1.22% to close at NGN1,574.20/USD. Crude oil price (Brent) increased by 0.56% to USD79.60pb.

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