August 19, 2024/InvestmentOne Report

The NGXASI declined today by 1.36% to close at 95,781.68pts as losses in DANGCEM (-10.00%), DANGSUGAR (-5.29%) and NB (-3.45%) offset the gains in BUACEMENT (+3.73%), TRANSCOHOT (+6.25%) and OANDO (+9.90%).

In the fixed income space, the Treasury Bills secondary market closed up as we observed buy pressure across all tenures of the benchmark curve. Consequently, Average T-Bills yield declined by 1.85% to close at 23.10%. In the same vein, the FGN Bond market traded on a positive note as the Average FGN Bond yield slightly fell by 1bp to close at 19.69%.

At the NAFEM window, the Naira strengthened by 0.04% to close at NGN1,579.22/USD. Crude oil price (Brent) settled lower by 0.70% to USD76.08pb.

Kindly find below the full Financial Market Report.