August 30, 2024/InvestmentOne Report

The NGXASI advanced today by 0.18% to close at 96,580.01pts as gains printed in OANDO (+9.94%), TRANSCORP (+7.27%) and UBA (+4.79%) drove the local bourse into the green.

In the fixed income space, the Treasury Bills secondary market closed on a bearish note as sell pressures were noticed along the short end of the curve. Consequently, Average T-Bills yield rose by 10bps to close at 21.21%. Meanwhile, the FGN Bond market traded on a positive note as the Average FGN Bond yield declined by 28bps to close at 18.96%.

At the NAFEM window, the Naira weakened by 0.29% to close at NGN1,598.56/USD. Crude oil price (Brent) depreciated by 1.43% to USD78.80pb.

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