
January 24, 2025/InvestmentOne Report
The NGXASI advanced by 0.79% today to close at 103,598.46pts, driven by the bullish momentum seen in MTNN (+1.18%), UBA (+4.29%) and ZENITHBANK (+3.12%) which propelled the local bourse into the green zone.
In the fixed income space, the Treasury Bills secondary market traded on a positive note on the back of the buying pressure observed across the curve in line with recent patterns. Consequently, Average T-Bills yield fell by 20bps to close at 24.83%. Similarly, the FGN Bond market exhibited a positive bias as the Average FGN Bond yield declined by 8bps to close at 20.72%.
According to the FMDQ FX closing rate, the Naira strengthened by 1.12% to close at NGN1,531.20/USD. Crude oil price (Brent) decreased by 0.31% to USD78.05pb.
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