October 11, 2024/InvestmentOne Report

The NGXASI advanced today by 0.13% to close at 97,606.63pts as gains in bellwether stocks including GTCO (+2.19%), FBNH (+1.76%) and MTNN (+0.53%) drove the local bourse into the positive zone.

In the fixed income space, the Treasury Bills secondary market closed negative majorly due to selloffs at the long end of the curve. As such, Average T-Bills yield rose by 1bp to close at 23.16%. Likewise, the FGN Bond market closed bearish as the Average FGN Bond yield increased by 2bps to close at 19.10%.

At the NAFEM window, the Naira depreciated by 1.15% to close at NGN1,641.27/USD. Crude oil price (Brent) settled lower by 0.29% to USD79.17pb.

Kindly find below the full Financial Market Report.