October 17, 2024/InvestmentOne Report

The NGXASI declined today by 0.21% to close at 98,081.38pts as the selloffs in the share prices of GTCO (-3.85%), OANDO (-5.82%) and UACN (-6.70%) drove the local bourse into the negative territory.

In the fixed income space, the Treasury Bills secondary market closed slightly upwards as the optimism seen across all tenors of the curve. As such, Average T-Bills yield decreased by 4bps to close at 23.52%. Elsewhere, the FGN Bond market traded on a bearish note as the Average FGN Bond yield rose by 3bps to close at 19.25%.

At the NAFEM window, the Naira depreciated by 0.05% to close at NGN1,660.49/USD. Crude oil price (Brent) declined by 0.26% to USD74.06pb.

Kindly find below the full Financial Market Report.