Government Securities Market (Week ended October 21, 2022)

23 October, 2022

The National Consumer Price Index (NCPI; Base 2013=100) for the month of September increased to a high of 73.7% on its point to point against its previous month’s figure of 70.2%.The annual average also increased to 36.9% against 25.5%.

The activity levels in the secondary bond market remained sluggish during the week as most market participants continued to be on the sidelines. The limited trades were witnessed on the maturities of 01.07.25, 15.01.28, 15.01.29 and 01.07.32 within the range of 31.93% to 32.25%, 30.90% to 31.00%, 30.91% to 31.05% and 29.47% to 29.90%.

Secondary market bill maturities of December 2022 and January-April 2023 changed hands at levels of 31.66% to 32.00% and 32.25% to 32.53% as well.

The demand at the weekly Treasury Bill auction was seen reducing to 55.74% of its total offered amount while the weighted average rates remained steady for the first time in six weeks. Rs.16.12 billion was accepted at the auction while a further amount of Rs. 25.68 billion was raised at its phase II.

In money markets, the total outstanding liquidity deficit was registered at Rs. 501.17 billion by the end of the week against its previous weeks of Rs. 515.51 billion while the CBSL’s holding of Govt. Security’s stood at Rs.2,413.29 billion against its previous weeks of Rs.2,383.84 billion.

(References: Central Bank of Sri Lanka, Bloomberg E-Bond trading platform, money broking companies)

Courtesy: Wealth Trust Securities Ltd

– Sunday Observer Sri Lanka

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