November 7, 2024/InvestmentOne Report

The NGXASI advanced today by 0.10% to close at 96,930.94pts, as buy pressure on CONOIL (+10.00%), OANDO (+7.03%) and ZENITHBANK (+0.82%) drove the local bourse into the positive territory.

In the fixed income space, the Treasury Bills secondary market closed up as we observed bullish sentiment across the curve. Consequently, Average T-Bills yield declined by 2bps to close at 23.98%. Meanwhile, the FGN Bond market traded on a flattish note as the Average FGN Bond yield remained unchanged to close at 19.46%.

At the NAFEM window, the Naira appreciated by 2.52% to close at NGN1,639.50/USD. Crude oil price (Brent) settled lower by 0.56% to USD74.50pb.

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