September 2, 2024/InvestmentOne Report

The NGXASI advanced today by 0.22% to close at 96,793.95pts as gains recorded in OANDO (+9.95%), UBA (+6.54%) and ZENITHBANK (+1.96%) propelled the market into the positive terrain.

In the fixed income space, the Treasury Bills secondary market traded on a positive note as buying interest was observed across the curve. Consequently, Average T-Bills yield declined by 11bps to close at 21.10%. Similarly, the FGN Bond market traded on a bullish note as the Average FGN Bond yield contracted by 18bps to close at 18.78%.

At the NAFEM window, the Naira appreciated by 0.80% to close at NGN1,585.77/USD. Crude oil price (Brent) increased by 0.75% to USD77.51pb.

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