October 22, 2024/InvestmentOne Report

The NGXASI extended its winning streak as it advanced by 0.20% to close at 98,892.58pts as buy interests in TRANSCOHOT (+9.28%), GTCO (+2.94%) and OANDO (+2.00%) drove the local equities market into the positive territory.

In the fixed income space, the Treasury Bills secondary market closed in the positive region, driven by the bullish sentiments observed across the mid tenor of the curve. As such, Average T-Bills yield fell by 4bps to close at 24.14%. Meanwhile, the FGN Bond market traded on a bearish note as the Average FGN Bond yield rose by 3bps to close at 19.34%.

At the NAFEM window, the Naira depreciated by 3.11% to close at NGN1,653.02/USD. Crude oil price (Brent) advanced by 2.56% to USD76.19pb.

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