October 29, 2024/InvestmentOne Report

The NGXASI declined today by 0.66% to close at 98,058.07pts, driven by the sell pressure on TRANSCORP (-7.41%), ACCESSCORP (-4.65%) and BUACEMENT (-1.01%) which propelled the Nigerian bourse into the red zone.

In the fixed income space, the Treasury Bills secondary market exhibited a slightly positive performance as yields declined across the benchmark curve. As a result, Average T-Bills yield moderated by 2bps to close at 24.14%. However, the FGN Bond market traded on a flattish note as the Average FGN Bond yield remained unchanged at 19.30%.

At the NAFEM window, the Naira strengthened by 2.41% to close at NGN1,630.45/USD. Crude oil price (Brent) contracted by 0.94% to USD70.75pb.

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