November 13, 2024/InvestmentOne Report

The NGXASI advanced today by 0.22% to close at 97,477.80pts, as bargain hunting activities in UBA (+3.48%), ZENITHBANK (+2.38%) and ACCESSCORP (+2.70%) drove the local bourse into the positive region.

In the fixed income space, the Treasury Bills secondary market trended upwards today as we observed optimistic sentiment across all tenor instruments. As such, Average T-Bills yield inched declined by 2bps to close at 23.94%. However, the FGN Bond market traded on a slightly negative note as the Average FGN Bond yield inched higher by 1bp to close at 19.41%.

At the NAFEM window, the Naira strengthened by 2.63% to close at NGN1,645.40/USD. Crude oil price (Brent) settled lower by 0.13% to USD71.80pb.

Kindly find below the full Financial Market Report.