Weekly averages resume upward trend

Thursday, 23 March 2017 00:00 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities

The weekly weighted averages were seen resuming their upward trend after a lapse on one week across all three maturities at their auction conducted yesterday.

The 91 day bill recorded the sharpest increase of 10 basis points to 9.57% closely followed by the 182 day and 364 day maturities by 7 and 8 basis points respectively to 10.46% and 10.82%. Furthermore, the total accepted amount on all three maturities was seen dipping to a 17-week low of Rs. 4.07 billion as well. Given below are the details of the auction.

The secondary bond market saw yields dip marginally yesterday on moderate volumes. The liquid 15.12.21, 01.08.24 and 01.08.26 maturities saw its yields dip to daily lows of 13.00%, 13.26% and 13.27% respectively against its day’s opening highs of 13.05% and 13.30% each.

The total secondary market Treasury bond transacted volume for 21 March was Rs. 1.15 billion. Given below are the closing, secondary market yields for the most frequently traded T – bills and bonds.

In money markets, the overnight call money and repo rates remained steady to average 8.50% and 8.55% respectively as the OMO Department of the Central Bank of Sri Lanka infused an amount of Rs. 10.11 billion at a weighted average of 8.50%, by way of an overnight reverse repo auction. The net deficit in the system increased to Rs. 22.59 billion yesterday.

Rupee mostly unchanged

The USD/LKR rate on the active two-week forward contract remained mostly unchanged yesterday to close the day at levels of Rs. 152.35/45 as markets were at equilibrium.

The total USD/LKR traded volume for 21 March 2017 was $ 116.95 million.

Given below are some forward USD/LKR rates that prevailed in the market.