October 10, 2024/InvestmentOne Report

The NGXASI declined today by 0.01% to close at 97,477.19pts as losses­­ in NB (-3.83%), FIDELITYBK (-3.36%) and UBA (-1.67%) propelled the local bourse into the negative zone.

In the fixed income space, the Treasury Bills secondary market closed negative largely due to selloffs on the short to mid end of the curve. As such, Average T-Bills yield rose by 28bps to close at 23.15%. 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 appreciated by 0.16% to close at NGN1,622.57/USD. Crude oil price (Brent) edged higher by 2.00% to USD78.11pb.

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