October 15, 2024/InvestmentOne Report

The NGXASI advanced today by 0.33% to close at 98,540.93pts as the positive sentiment seen in stocks such OANDO (+7.93%), GTCO (+3.21%) and FIDELITYBK (+2.40%) drove the local bourse into the positive zone.

In the fixed income space, the Treasury Bills secondary market closed downwards due to the sell pressure observed across the mid and long tenors of the curve. As such, Average T-Bills yield rose by 43bps to close at 23.54%. Contrary to the previous day, the FGN Bond market traded on a bearish note as the Average FGN Bond yield rose by 6bps to close at 19.16%.

At the NAFEM window, the Naira depreciated by 6.83% to close at NGN1,658.97/USD. Crude oil price (Brent) declined by 4.83% to USD73.72pb.

Kindly find below the full Financial Market Report.