August 23, 2024/InvestmentOne Report

The NGXASI advanced today by 0.27% to close at 95,973.45 pts as gains in OANDO (+10.00%), ACCESSCORP (+5.00%) and TRANSCORP (+4.35%) drove the domestic equities market into the positive territory.

In the fixed income space, the Treasury Bills secondary market closed positive as there was optimistic sentiment along all tenor instruments across the benchmark curve. Consequently, Average T-Bills yield fell by 49bps to close at 22.32%. Similarly, the FGN Bond market traded on a positive note as the Average FGN Bond yield slightly fell by 5bps to close at 19.62%.

At the NAFEM window, the Naira strengthened by 1.01% to close at NGN1,570.14/USD. Crude oil price (Brent) advanced by 2.15% to USD78.88pb.

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