Saturday Sep 21, 2024
Saturday Sep 21, 2024
Friday, 28 June 2019 00:00 - - {{hitsCtrl.values.hits}}
By Wealth Trust Securities
The bullish outcomes at the recently conducted primary auctions were seen continuing at yesterday’s Treasury bond auctions of Rs. 125 billion as well, as its total offered amount was subscribed to at its Phase I stage. The new 4 year and 11 month maturity of 15.06.2024 recorded an impressive weighted average of 9.83% while the 15 years and 08 month maturity of 15.03.35 recorded a weighted average of 10.59%. The bids to offer ratio stood at 1.94:1.
In the secondary bond market, buying interest during morning hours of trading pre-auction led to yields decreasing further mainly on the 2023’s (i.e. 15.03.23, 15.05.23, 15.07.23 & 15.12.23), 15.03.24 and 01.05.29 maturities to intraday lows of 9.70% each, 9.75%, 9.85% and 10.35% respectively. Nevertheless, subsequent to the auction outcome yields were seen increasing once again on the maturities of 15.05.23, 15.12.23 and 15.03.24 to highs of 9.85%, 9.90% and 9.95% respectively. In addition, the maturities of 01.05.20 and 15.10.21 changed hands at levels of 8.52% and 9.25% to 9.30% respectively as well.
The total secondary market Treasury bond/bill transacted volumes for 26 June was Rs. 22.60 billion.
In money markets, the net liquidity surplus increased to high of Rs. 53.23 billion yesterday with overnight call money and repo rates averaging 7.86% and 7.96% respectively. The OMO Department of the Central Bank of Sri Lanka drained out an amount of Rs. 20.00 billion by way of an overnight repo auction at a weighted average of 7.71%.
Rupee losses marginally
In the Forex market, the USD/LKR rate on the spot contract depreciated marginally to close the day at Rs. 176.60/70 against its previous day’s closing levels of Rs. 176.50/60 on the back of buying interest by banks.
The total USD/LKR traded volume for 26 June was $ 51.03 million.
Some forward USD/LKR rates that prevailed in the market were: 1 Month - 177.25/45; 3 Months - 178.60/90; 6 Months - 180.80/10.
