October 28, 2024/InvestmentOne Report

The NGXASI declined today by 0.74% to close at 98,708.90pts as investors reduced their stakes in BUACEMENT (-10.00%), FBNH (-6.09%) and UBA (-3.99%) which drove the Nigerian equities market into the negative terrain.

In the fixed income space, the Treasury Bills secondary market traded on a positive note, driven by the buying interest noticed across the mid and long tenor maturities. Consequently, Average T-Bills yield moderated by 2bps to close at 24.16%. In the same vein, the FGN Bond market traded on a positive note as the Average FGN Bond yield moderated by 1bp to close at 19.30%.

At the NAFEM window, the Naira depreciated by 4.42% to close at NGN1,670.65/USD. Crude oil price (Brent) plummeted by 5.63% to USD71.77pb.

Kindly find below the full Financial Market Report.