August 20, 2024/InvestmentOne Report

The NGXASI advanced today by 0.12% to close at 95,895.92pts as gains in OANDO (+9.90%), STANBIC (+6.74%) and SEPLAT (+1.28%) drove the domestic equities market into the green zone.

In the fixed income space, the Treasury Bills secondary market closed positive as we observed buy pressure across all tenures of the benchmark curve. Consequently, Average T-Bills yield declined by 14bps to close at 22.95%. Elsewhere, the FGN Bond market traded on a positive note as the Average FGN Bond yield slightly rose by 4bp to close at 19.73%.

At the NAFEM window, the Naira weakened by 0.81% to close at NGN1,592.06/USD. Crude oil price (Brent) settled lower by 0.67% to USD77.14pb.

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