Downward trend persists for second consecutive day

Friday, 11 September 2015 00:00 - - {{hitsCtrl.values.hits}}

Untitled-2

By Wealth Trust Securities

The downward trend in secondary market bond yields driven by the outcome of Wednesday’s Treasury bill auction continued for a second consecutive day yesterday.

Yields on the liquid maturities of 01.05.20, 01.08.21 and 01.09.2023 were seen hitting intraday lows of 9.40%, 9.60% and 9.95% respectively against its day’s opening highs of 9.47%, 9.70% and 10.06% on the back of continued buying interest from local and foreign participants.

In addition, activity was witnessed on the maturities of 01.07.19 and 15.09.19 within the range of 9.20% to 9.25% and 9.25% to 9.30% respectively as well. More interestingly the buying pressure on secondary market bills saw the December 2015 and February 2016 maturities being demanded at levels of 6.50% and 6.80% respectively.

In money markets, surplus liquidity of Rs. 54.09 billion saw overnight call money and repo rates remaining mostly unchanged to average 6.34% and 6.30% respectively yesterday.

Rupee continues

to lose ground

Meanwhile, in Forex markets, the USD/LKR rate on spot contracts depreciated further to break the psychological level of Rs. 139.00 yesterday to close the day at Rs. 138.95/05 against its previous day’s closing of Rs. 138.80/90 on the back of continued importer demand. The total USD/LKR traded volume for 9 September 2015 was $ 43.40 million.

Some of the forward USD/LKR rates that prevailed in the market were one month - 139.40/60, three months - 140.65/80 and six months - 142.20/40.

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.