September 6, 2024/InvestmentOne Report

The NGXASI advanced today by 0.23% to close at 96,433.53pts as the uptick in the share prices of OANDO (+10.00%), ETI (+4.78%) and ZENITHBANK (+1.35%) propelled the market into the green.

In the fixed income space, the Treasury Bills secondary market traded on a slightly negative note amid the mild selloff from investors. Thus, Average T-Bills yield increased by 5bps to close at 19.66%. Meanwhile, the FGN Bond market traded positively as the Average FGN Bond yield moderated by 1bp to close at 18.69%.

At the NAFEM window, the Naira appreciated by 2.81% to close at NGN1,593.32/USD. Crude oil price (Brent) contracted by 2.24% to USD71.06pb.

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