September 26, 2024/InvestmentOne Report

The NGXASI declined today by 0.47% to close at 98,987.42pts as the selloffs observed in MTNN (-4.40%), OKOMUOIL (-7.63%) and GTCO (-1.80%) which drove the local equities market into the negative region.

In the fixed income space, the Treasury Bills secondary market closed downwards driven by the negative sentiment observed across all tenor instruments. Consequently, Average T-Bills yield rose by 11bps to close at 21.93%. Similarly, the FGN Bond market traded on a bearish note as the Average FGN Bond yield increased by 2bps to close at 18.74%.

At the NAFEM window, the Naira appreciated by 5.48% to close at NGN1,576.10/USD. Crude oil price (Brent) declined by 2.33% to USD71.75pb.

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