September 4, 2024/InvestmentOne Report

The NGXASI declined today by 0.35% to close at 96,537.48pts on the back of the losses recorded on OANDO (-10.00%), ZENITHBANK (-2.35%) and UBA (-2.26%) which pushed the domestic bourse into the negative zone.

In the fixed income space, the Treasury Bills secondary market traded on a positive note as buying pressure was observed across the curve. Consequently, Average T-Bills yield fell marginally by 4bps to close at 20.87%. Similarly, the FGN Bond market traded on a positive note as the Average FGN Bond yield moderated by 2bps to close at 18.75%.

At the NAFEM window, the Naira depreciated by 0.90% to close at NGN1,625.88/USD. Crude oil price (Brent) declined by 0.50% to USD73.38pb.

Kindly find below the full Financial Market Report.