September 5, 2024/InvestmentOne Report

The NGXASI declined today by 0.34% to close at 96,210.20pts as the sell pressure on OANDO (-9.65%), STANBIC (-1.78%) and FLOURMILL (-7.21%) drove the local equities market into the red.

In the fixed income space, the Treasury Bills secondary market traded on a bullish note amid the buying interest amongst investors following the outcome of the primary market auction held yesterday. As a result, Average T-Bills yield plunged by 125bps to close at 19.61%. Similarly, the FGN Bond market traded positively as the Average FGN Bond yield declined by 5bps to close at 18.70%.

At the NAFEM window, the Naira weakened by 0.83% to close at NGN1,639.41/USD. Crude oil price (Brent) fell by 0.25% to USD72.52pb.

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