January 23, 2025/InvestmentOne Report

The NGXASI declined by 0.05% today to close at 102,788.20pts as the profit taking in MTNN (-0.81%), DANGSUGAR (-6.54%) and NASCON (-5.13%) drove the local equities market into the red.

In the fixed income space, the Treasury Bills secondary market traded on a positive note amidst the buying interest noticed across the benchmark curve. Consequently, Average T-Bills yield declined by 9bps to close at 25.03%. However, the FGN Bond market exhibited a negative bias as the Average FGN Bond yield rose by 6bps to close at 20.80%.

According to the FMDQ FX closing rate, the Naira appreciated by 0.26% to close at NGN1,548.59/USD. Crude oil price (Brent) increased by 0.62% to USD79.49pb.

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