October 8, 2024/InvestmentOne Report

The NGXASI declined today by 0.12% to close at 97,584.81pts as losses in OANDO (-5.84%), GTCO (-3.67%) and MTNN (-0.58%) buoyed the equities market into the negative terrain.

In the fixed income space, the Treasury Bills secondary market closed up as we observed buying pressure on the short to mid end of the curve. As such, Average T-Bills yield moderated by 1bp to close at 22.94%. However, the FGN Bond market traded on a flattish note as the Average FGN Bond yield remained unchanged to close at 19.08%.

At the NAFEM window, the Naira strengthened by 4.49% to close at NGN1,561.76/USD. Crude oil price (Brent) settled lower by 4.31% to USD77.44pb.

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