Activity dries up as yields remain broadly steady

Tuesday, 10 May 2016 00:02 - - {{hitsCtrl.values.hits}}

Net foreign outflow in rupee bonds for second consecutive week

By Wealth Trust Securities

The switch in approach to a ‘wait and see’ by market participants ahead of the upcoming primary auctions saw activity dry up BUP_DFTDFT-11-02 considerably in the secondary bond market yesterday.

A very limited amount of activity was witnessed on the 01.09.2028 maturity within the range of 12.15% to 12.20% as two way quotes on other maturities were seen widening as well.

Meanwhile the foreign holding in Rupee bond was seen decreasing for a second consecutive week, recording an outflow of Rs.2.36 billion for the week ending 4 May while the accumulated outflow for the past two weeks stood at Rs.10.19 billion.

Meanwhile in money markets, the overnight call money and repo rates averaged at 8.15% and 8.00% respectively as liquidity stood at a net surplus of Rs.3.79 billion yesterday.

Rupee remains steady

Meanwhile in Forex markets, the rupee on spot next contracts remained mostly unchanged to close the day at levels of Rs.146.18/25. The total USD/LKR traded volume for 6 May was $ 57.18 million.

Some of the forward USD/LKR rates that prevailed in the market were: one month – 147.10/25; three months – 148.55/75; and six months – 150.90/10.

BUP_DFTDFT-11-03

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.