November 8, 2024/InvestmentOne Report

The NGXASI advanced today by 0.32% to close at 97,236.19pts, as price appreciation in CONOIL (+9.94%), ACCESSCORP (+1.02%) and TRANSCORP (+0.92%) drove the local bourse into the green zone.

In the fixed income space, the Treasury Bills secondary market was slightly positive as we observed buy pressure across the curve. As such, Average T-Bills yield moderated by 1bp to close at 23.96%. However, the FGN Bond market traded on a flattish note as the Average FGN Bond yield remained unchanged to close at 19.41%.

At the NAFEM window, the Naira weakened by 2.40% to close at NGN1,678.87/USD. Crude oil price (Brent) settled lower by 2.43% to USD73.79pb.

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