December 20, 2024/InvestmentOne Report

The NGXASI declined by 0.12% today to close at 101,129.09pts, as sell-off witnessed in NB (-3.33%), WAPCO (+2.84%) and TRANSCORP (+0.58%) pushed the local bourse into the negative zone.

In the fixed income space, the Treasury Bills secondary market closed on a bearish note today, largely due to the upwards momentum seen across the short and mid tenors of the curve. As such, Average T-Bills yield rose by 8bps to close at 25.70%. Meanwhile, the FGN Bond market traded on a tepid note as the Average FGN Bond yield remained constant to close at 19.73%.

At the NFEM window, the Naira weakened by 0.13% to close at NGN1,542.00/USD. Crude oil price (Brent) shrank by 0.21% to USD72.73pb.

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