December 11, 2024/InvestmentOne Report

The NGXASI advanced by 0.31% today to close at 98,509.68pts, as positive sentiment observed in CONOIL (+10.00%), WAPCO (+1.54%) and NEM (+9.74%) drove the local bourse into the green zone.

In the fixed income space, the Treasury Bills secondary market traded downwards today, largely due to selloffs seen on the mid tenor instrument. As such, Average T-Bills yield rose by 4bps to close at 25.68%. Meanwhile, the FGN Bond market closed on a flattish but with a positive tilt as the Average FGN Bond yield fell by 1bp to close at 19.47%.

At the NAFEM window, the Naira weakened by 1.31% to close at NGN1,545.00/USD. Crude oil price (Brent) rose by 0.55% to USD72.59pb.

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