Buying interest emerges at week’s open

By First Capital Research

The secondary market reflected a broadly mixed sentiment, though buying interest ultimately outweighed selling pressure. 

Trading activity remained relatively subdued, resulting in moderate volumes.

At the short end, a cluster of 2028 maturities, including 15.02.2028, 15.03.2028, 01.07.2028, 01.09.2028 and 15.10.2028, traded within a yield band of 9.00 percent to 9.07 percent. Moving along the curve, the 15.06.2029 and 15.09.2029 bonds traded between 9.40 percent and 9.45 percent. Lastly, at the belly end of the curve, the 01.07.2030 maturity changed hands at 9.60 percent.

On the external front, the Sri Lankan rupee depreciated against the US dollar, closing at Rs.306.37/US dollar, compared to Rs.305.22/US dollar seen previously. Overnight liquidity in the banking system contracted further to Rs.87.64 billion, from Rs.136.12 billion recorded on the previous day.