This week, analysts are anticipating a sustained bullish trend, albeit minimal activities as unmet bids at the Primary Market Auction (PMA) are channeled into the secondary market, expecting Open Market Operations (“OMO”) maturity of N58.04 billion to hit the market, boosting financial system liquidity which closed N112.9 billion short on Friday.
“Thus, we maintain our advice that investors position in relatively attractive instruments across the market while looking out for other investment opportunities like commercial papers”, said analysts at Proshare Also, analysts also expect improved activity in the secondary market as investors adjust their portfolios and look to invest coupon payments worth N719.9 billion into relatively attractive offers in the market.
Proshare advise investors to take position in maturities across all segments in the market.
Last week, the Nigerian Treasury Bills (“NT-Bills”) secondary market sustained its bullish run which was supported by the liquidity boost on Wednesday (which stood at N348.8 billion long) as buying interest was recorded on medium tenured bills. Average yields declined 2bps W-o-W from 3.44 per cent to 3.42 per cent as investors cherry-picked relatively attractive maturities across the curve.
