November 1, 2024/InvestmentOne Report

The NGXASI declined today by 0.22% to close at 97,432.02pts, following the profit taking seen in UBA (-2.68%), STERLINGNG (-4.08%) and CUSTODIAN (-6.98%) which spurred the negative close.

In the fixed income space, the Treasury Bills secondary market exhibited a negative performance due to the selloffs observed at the short end of the curve. Consequently, Average T-Bills yield increased by 10bps to close at 24.22%. However, the FGN Bond market traded on a tepid note as the Average FGN Bond yield closed flat at 19.49%.

At the NAFEM window, the Naira strengthened by 0.52% to close at NGN1,666.72/USD. Crude oil price (Brent) rose by 1.40% to USD73.83pb.

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