Demand for shorter tenure maturities kept secondary markets alive

Friday, 20 September 2013 00:34 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities Activity in secondary markets picked up yesterday as demand for shorter tenure maturities increased on Wednesday. Considerable volumes of bond maturities close to six month durations and bill maturities close to the 364 day bill was seen changing hands within the ranges of 10.10% to 10.30% and 10.48% to 10.52% respectively. In addition, a limited amount of activity was witnessed on the liquid five year maturity (i.e. 1 April 2018) within a thin range of 11.92% to 11.93% while the liquid two-year maturity (i.e. 15 July 2015) was seen closing the day at levels of 11.17/23. Meanwhile in money markets on Wednesday, Central Bank was seen mopping up an amount of Rs. 6 b on an overnight basis by way of a Repo auction at a WAvg of 7.12% as overnight call money and repo rates remained steady. Spot next contracts dip marginally (subhead) Despite the USD/LKR rate on spot remaining steady at levels of Rs. 132.25/30 on Wednesday, the rupee lost ground marginally on spot next contrasts to hit a daily low of Rs. 132.42 in comparison to its previous day’s closing of 132.38/40 on the back of importer demand. The total USD/LKR traded volume for the previous day (17 September 2013) stood at US$ 15.95 million. Some forward dollar rates that prevailed in the market were one month – 133.13; three months – 134.88; and six months – 137.53.

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