August 13, 2024/InvestmentOne Report

The NGXASI declined by 0.50% today to close at 97,390.01pts as selloffs especially in BUACEMENT (-3.94%), OANDO (-9.97%) and ZENITHBANK (-4.02%) buoyed the domestic equities market into the red zone.

In the fixed income space, the Treasury Bills secondary market closed positive largely due to buy pressure at the long end of the curve. As such, Average T-Bills yield fell by 8bps to close at 25.56%. Likewise, the FGN Bond market traded on a positive note as the Average FGN Bond yield declined by 3bps to close at 19.97%.

At the NAFEM window, the Naira depreciated by 0.71% to close at NGN1,582.09/USD. Crude oil price (Brent) edged lower by 1.43% to USD81.12pb.

Kindly find below the full Financial Market Report.