A market brief each morning, plus company filings and news from across Sri Lanka's stock market. Filter by company, sector and theme, and use sentiment badges to quickly identify Positive or Negative news.
Foreign investors bought a net 8,059 million rupees (US$24.8m) of Sri Lanka rupee bonds in the week to Aug 28, boosting foreign holdings to 210.6 billion rupees-the highest figure in the Central Bank's Weekly Economic Indicators. The inflows coincided with a firmer rupee (around LKR332) after a sharp depreciation in May and follow a May 100bp policy rate rise.
Sri Lanka sold Rs5,000 million of Treasury bonds on tap, bringing the week's total bond sales to Rs55 billion. The 1 Aug 2030 paper yielded 10.54% and the 15 Mar 2035 paper yielded 11.70%.
Sri Lanka's rupee was quoted at 327.90/328.05 to the US dollar, firmer than 328.10/30 the previous day, while government bond yields eased, especially on belly tenors. Dealers quoted mid-curve yields around 10.25-10.50%; the All Share Price Index rose 0.23% to 21,388.74.
Sri Lanka's CCPI inflation rose to 8.0% year-on-year in August, a three-year high and above the Central Bank's 5% ±2% target band for a second month. Food inflation climbed to 8.5% and core inflation to 5.1%, and the CBSL says headline inflation is likely to remain above target in the near term.
Secondary bond market opened on a positive note with yields edging lower on selected tenors, e.g. 15.12.28 at 10.10%, 15.12.29 at 10.30% and long-dated 2033-37 maturities around 11.20%-11.82%. CCPI inflation accelerated to 8% YoY in August; net liquidity surplus was Rs.132.33bn, the Central Bank absorbed Rs.70bn via repos and USD/LKR closed at 328.10/328.30.
Seylan Bank ran an SME Scale-Up Program in Tissamaharama for nearly 200 Southern farmers, providing financial management training and showcasing agricultural financing including Seylan Athwela loans up to Rs.5 million at a 5% concessional rate and NCRCS loans at 6%.
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