September 9, 2024/InvestmentOne Report

The NGXASI declined today by 0.24% to close at 96,206.18pts as losses in JBERGER (-10.00%), TRANSCORP (-3.08%) and ZENITHBANK (-1.33%) drove the domestic bourse into the negative terrain.

In the fixed income space, the Treasury Bills secondary market traded on a negative note driven by selloffs at the mid and long end of the curve. Thus, Average T-Bills yield increased by 35bps to close at 20.01%. Likewise, the FGN Bond market traded negatively as the Average FGN Bond yield rose by 3bps to close at 18.72%.

At the NAFEM window, the Naira appreciated by 0.81% to close at NGN1,580.46/USD. Crude oil price (Brent) edged higher by 0.93% to USD71.72pb.

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