September 27, 2024/InvestmentOne Report

The NGXASI declined today by 0.07% to close at 98,458.68pts as the selloffs observed in FBNH (-4.58%), INTBREW (-6.96%) and FCMB (-1.16%) which drove the local equities market into the negative region.

In the fixed income space, the Treasury Bills secondary market closed marginally upwards driven by the tepid optimism observed across all tenor instruments. Consequently, Average T-Bills yield fell by 1bp to close at 21.92%. Elsewhere, the FGN Bond market traded on a bearish note as the Average FGN Bond yield increased by 1bp to close at 18.75%.

At the NAFEM window, the Naira appreciated by 2.24% to close at NGN1,540.78/USD. Crude oil price (Brent) advanced by 0.99% to USD72.31pb.

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