August 12, 2024/InvestmentOne Report

The NGXASI declined by 0.73% today to close at 97,881.75pts as selloffs in BUACEMENT (-9.93%), TRANSCOHOT (-1.42%) and ZENITHBANK (-0.77%) drove the local bourse into the red zone.

In the fixed income space, the Treasury Bills secondary market traded on a positive note as yields declined across the benchmark curve amidst buying pressure from investors. Thus, Average T-Bills yield fell by 16bps to close at 25.64%. Similarly, the FGN Bond market traded on a positive note as the Average FGN Bond yield moderated by 4bps to close at 20.01%.

At the NAFEM window, the Naira strengthened by 0.20% to close at NGN1,570.99/USD. Crude oil price (Brent) increased by 1.80% to USD81.09pb.

Kindly find below the full Financial Market Report.