Secondary bond markets begin the month on a dull note

Tuesday, 2 December 2014 00:25 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities The dull sentiment in secondary bond markets continued yesterday as well with a limited amount of activity seen on the two 2018 maturities (i.e. 01.04.2018 and 15.08.2018) within the range of 7.15% to 7.17% and 7.28% to 7.30% respectively while active quotes were seen on the 01.07.2019 and the 01.07.2022 maturities at levels of 7.35/40 and 8.15/20 respectively. However, some odd maturities such as 15.07.2015, 15.06.2017 and 01.02.2018 were seen trading at highs of 6.00%, 7.10% and 7.20% respectively as well. In money markets, the weighted average on overnight call money and repo rates increased marginally to average at 6.01% and 5.76% respectively yesterday despite surplus liquidity increasing marginally to Rs. 46.87 billion. Furthermore, the Open Market Operations (OMO) department of Central Bank was seen draining an amount of Rs. 12.87 billion by way of a four-day term repo auction at a weighted average of 5.99%. Rupee dips marginally once again In Forex markets, the dollar/rupee (USD/LKR) rate on spot next-next contracts closed the day marginally lower at Rs. 131.75/85 yesterday on the back of renewed importer demand. The total USD/LKR traded volume for 26 November 2014 was at $ 38.70 million. Some of the forward dollar rates that prevailed in the market were 1 Month - 132.30; 3 Months - 133.21 and 6 Months - 134.45.

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