November 28, 2024/InvestmentOne Report

The NGXASI advanced by 0.50% today to close at 97,783.81pts, as the bargain hunting in OANDO (+5.40%), FBNH (+2.20%) and UBA (+1.56%) propelled the market into the green zone.

In the fixed income space, the Treasury Bills secondary market exhibited a positive performance as seen from the decline in yields across the benchmark curve. Consequently, Average T-Bills yield moderated by 2bps to close at 25.10%. However, the FGN Bond market was negative as the Average FGN Bond yield inched up by 1bp to close at 19.46%.

At the NAFEM window, the Naira appreciated by 0.96% to close at NGN1,644.86/USD. Crude oil price (Brent) inched up by 0.03% to USD72.85pb.

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