November 12, 2024/InvestmentOne Report

The NGXASI declined today by 0.12% to close at 97,260.75pts, as profit taking activities in OANDO (-9.42%), NESTLE (-3.95%) and DANGSUGAR (-4.83%) drove the Nigerian equities market into the negative region.

In the fixed income space, the Treasury Bills secondary market was slightly negative as we observed selling pressure along the short and mid tenor instruments. As such, Average T-Bills yield inched higher by 1bp to close at 23.96%. However, the FGN Bond market traded on a slightly positive note as the Average FGN Bond yield moderated by 1bp to close at 19.40%.

At the NAFEM window, the Naira weakened by 0.50% to close at NGN1,689.88/USD. Crude oil price (Brent) settled lower by 0.07% to USD71.78pb.

Kindly find below the full Financial Market Report.