October 3, 2024/InvestmentOne Report

The NGXASI declined today by 1.19% to close at 97,064.42pts as the sell pressure on DANGCEM (-10.00%), FBNH (-4.26%) and DANGSUGAR (-4.41%) propelled the local bourse into the red zone.

In the fixed income space, the Treasury Bills secondary market traded on a negative note due to the mild selloff observed on mid tenor instruments. As a result, Average T-Bills yield inched up by 3bps to close at 22.56%. Similarly, the FGN Bond market exhibited a bearish performance as the Average FGN Bond yield rose by 26bps to close at 19.09%.

At the NAFEM window, the Naira appreciated by 0.59% to close at NGN1,659.26/USD. Crude oil price (Brent) jumped by 3.76% to USD76.68pb.

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