October 23, 2024/InvestmentOne Report

The NGXASI ended the day on a positive note as it advanced by 0.05% to close at 98,944.42pts as buy interests in OANDO (+10.00%), FBNH (+6.49%) and ZENITHBANK (+4.66%) drove the local bourse 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 3bps to close at 24.11%. Meanwhile, the FGN Bond market traded on a flattish note as the Average FGN Bond yield remained constant to close at 19.34%.

At the NAFEM window, the Naira weakened by 0.06% to close at NGN1,654.09/USD. Crude oil price (Brent) declined by 1.67% to USD74.77pb.

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