August 26, 2024/InvestmentOne Report

The NGXASI advanced today by 0.07% to close at 96,037.28 pts as gains in OKOMUOIL (+9.99%), OANDO (+9.93%) and BUAFOODS (+4.20%) 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 66bps to close at 21.67%. Similarly, the FGN Bond market traded on a positive note as the Average FGN Bond yield declined by 7bps to close at 19.55%.

At the NAFEM window, the Naira weakened by 1.69% to close at NGN1,596.60/USD. Crude oil price (Brent) advanced by 2.48% to USD80.98pb

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