October 16, 2024/InvestmentOne Report

The NGXASI declined today by 0.25% to close at 98,291.53pts as the selloffs in the share prices of OKOMUOIL (-6.86%), NESTLE (-2.25%) and FIDELITYBK (-2.34%) 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 tenor of the curve. As such, Average T-Bills yield rose by 2bps to close at 23.56%. Similarly, the FGN Bond market traded on a bearish note as the Average FGN Bond yield rose by 6bps to close at 19.22%.

At the NAFEM window, the Naira depreciated by 0.04% to close at NGN1,659.69/USD. Crude oil price (Brent) declined by 0.26% to USD74.06pb.

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