Secondary market stalls amid geopolitical jitters

By First Capital Research

The secondary market commenced the week on a subdued note, with activity largely at a standstill, leaving the yield curve broadly unchanged. 

The heightened tensions in the Middle East, alongside the negative developments surrounding peace talks, continued to fuel uncertainty, driving global oil prices higher.

Against this backdrop, investor participation remained muted, with only minimal and largely insignificant trades observed in the secondary market.

On the external front, the Sri Lankan rupee depreciated against the US dollar, standing at Rs.317.75/US dollar, compared to Rs.317.17/US dollar seen the previous day. Liquidity in the banking system expanded to Rs.219.28 billion, from Rs.199.17 billion recorded previously.