August 15, 2024/InvestmentOne Report

The NGXASI declined by 0.15% today to close at 97,100.60pts as the selloffs observed on OANDO (-9.94%), DANGSUGAR (-3.52%) and ETI (-4.65%) propelled the market into the red zone.

In the fixed income space, the Treasury Bills secondary market exhibited a positive performance amidst the buying pressure seen across the benchmark curve. As such, Average T-Bills yield decreased by 16bps to close at 25.31%. In the same vein, the FGN Bond market traded on a bullish note as the Average FGN Bond yield declined by 22bps to close at 19.71%.

At the NAFEM window, the Naira appreciated by 1.36% to close at NGN1,564.48/USD. Crude oil price (Brent) rose by 1.83% to USD81.22pb.

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