Market slumbers ahead of today’s bond auction

By First Capital Research

The secondary market remained quiet throughout the day, as participants awaited the upcoming Rs.60.0 billon bond auction scheduled for today. 

Despite the subdued activity, the four-year tenure bond maturing on 15.12.2028 traded at a yield of 12.70 percent during the day.

For the week ending August 09, 2024, the AWPLR increased by 01bps to 9.05 percent, compared to the previous week, whilst the AWDR stood at 8.04 percent, as of July 2024. 

Furthermore, foreign holdings in government securities decreased by 7.45 percent week-on-week, registering at Rs.48.1 billion as of August 08, 2024.

Notably, the overnight liquidity for the day improved to Rs.118.2 billon compared to last week’s closing of Rs.107.4 billon, whilst the Central Bank holdings remained steady at Rs.2,575.6 billon for the 12th consecutive session.

Furthermore, in the forex market, the Sri Lankan rupee continued to appreciate against the US dollar for the third consecutive session, closing at Rs.300.4 for the day. 

Moreover, for the year up to August 09, 2024, the Sri Lankan rupee has appreciated against the US dollar by 7.5 percent, reflecting a strong overall performance despite the recent fluctuations.