October 30, 2024/InvestmentOne Report
The NGXASI declined today by 0.04% to close at 98,023.23pts, due to the fall in the share prices of MTNN (-4.84%), JAIZBANK (-10.00%) and PZ (-10.00%) which pushed the local equities market into the negative territory.
In the fixed income space, the Treasury Bills secondary market traded on a positive note as yields declined across the benchmark curve amid buying interest amongst investors. Thus, Average T-Bills yield moderated by 1bp to close at 24.13%. Conversely, the FGN Bond market was characterized by bearish momentum as the Average FGN Bond yield rose by 21bps to close at 19.51%.
At the NAFEM window, the Naira weakened by 0.04% to close at NGN1,631.17/USD. Crude oil price (Brent) increased by 2.38% to USD72.81pb.
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