October 18, 2024/InvestmentOne Report

The NGXASI moderated today by 0.01% to close at 98,070.23pts as the selloffs in the share prices of FIDELITYBK (-4.44%), NB (-3.45%) and FBNH (-0.76%) drove the local equities market into the negative territory.

In the fixed income space, the Treasury Bills secondary market closed in the negative region, driven by the selloffs observed across the short and mid tenors of the curve. As such, Average T-Bills yield surged by 64bps to close at 24.16%. Similarly, the FGN Bond market traded on a bearish note as the Average FGN Bond yield rose by 5bps to close at 19.30%.

At the NAFEM window, the Naira appreciated by 3.60% to close at NGN1,600.78/USD. Crude oil price (Brent) declined by 1.49% to USD73.34pb.

Kindly find below the full Financial Market Report.