January 28, 2025/InvestmentOne Report

The NGXASI declined by 0.44% today to close at 103,958.75pts, as losses in FIDELITYBK (-6.00%), FBNH (-5.49%) and DANGCEM (-3.75%) drove the local bourse into the red terrain.

In the fixed income space, the Treasury Bills secondary market traded on a negative note largely due to selloffs on the long tenor instruments. Consequently, Average T-Bills yield rose by 2bps to close at 24.77%. Similarly, the FGN Bond market exhibited a negative bias as the Average FGN Bond yield marginally increased by 1bp to close at 20.72%.

According to the FMDQ FX closing rate, the Naira appreciated by 0.71% to close at NGN1,522.68/USD. Crude oil price (Brent) edged higher by 0.16% to USD77.20pb.

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