Category: Economy and Markets
Sri Lanka facilitating imports with forex reserves for growth
Oct 06, 2011 (LBO) – Sri Lanka’s central bank is facilitating imports to maintain growth by selling reserves and not trying to defend a particular exchange rate, Deputy Governor Dharma Dheerasinghe said. Equity markets inflows which were about 150 million dollars negative will turn positive towards the end of the year with investments from the […]
‘s biggest fund increases equity investments
Oct 06, 2011 (LBO) – The Employees’ Provident Fund (EPF), Sri Lanka’s biggest fund with 976 billion rupees in assets and managed by the central bank, has increased investments in the stock market. A central bank statement said the EPF’s total assets, which had grown an annual 14.6 percent, are expected to reach a value […]
Sri Lanka overnight rates ease
Oct 06, 2011 (LBO) – Interest rates in Sri Lanka’s overnight money markets eased Thursday, a day after the monetary authority resumed cash auctions to inject liquidity, dealers said. Sri Lanka’s rates have been rising in recent weeks with the defence of a dollar peg which has drained liquidity from the system. The Central Bank’s […]
Sri Lanka stocks end down 0.4-pct
Oct 06, 2011 (LBO) – Sri Lankan stocks closed weaker for the third straight day Thursday with interest in ‘penny’ stocks and those that had drawn speculators, brokers said. The main All Share Price Index fell 0.43 percent (28.64 points) to 6,677.84, while the more liquid Milanka index fell 0.47 percent (27.91 points) to close […]
Sri Lanka stocks end down 0.2-pct
Oct 05, 2011 (LBO) – Sri Lankan stocks closed weaker Wednesday in choppy trade with interest in stocks that had drawn speculators, brokers said. The main All Share Price Index fell 0.22 percent (15.06 points) to 6,706.48, while the more liquid Milanka index fell 0.27 percent (16.44 points) to close at 5,966.51, according to stock […]
‘s overnight rate tops one year gilts
Oct 05, 2011 (LBO) – Sri Lanka’s average overnight risk free money market rate has topped the one year Treasuries rate, as monetary authorities continued to target both the interest rate and exchange rate, dealers said. In the repo market, where overnight loans backed by gilts, most deals were made at 7. 45 percent Wednesday […]
Sri Lanka injects liquidity at 8.25-pct
Oct 05, 2011 (LBO) – Sri Lanka’s central bank injected 1. 25 billion rupees to money markets overnight at 8. 25 percent Wednesday resuming reverse repo auctions and capping spiking overnight rates triggered by forex interventions, dealers said. Though markets still have excess liquidity rates rose as banks which do not have exposure limits were […]
Sri Lanka Capital Alliance group rebranded
Oct 05, 2011 (LBO) – Capital Alliance, an investment house active in equities and fixed income markets has been re-branded as CAL from October 2011 after 11 years of operations is looking to expand further into asset management and retail financing, the company said. Capital Alliance said it has become a key player in the […]
Sri Lanka Treasuries yields up
Oct 05, 2011 (LBO) – Sri Lanka’s Treasuries yields rose across maturities with the 3-month yield moving 06 basis points to 7.21 percent with the state debt office only accepting bid for 76 percent of the offered volume. The 6-month yield rose 04 basis points to 7.27 percent and the 12-month yield rose 03 basis […]
Sri Lanka starts reverse repo auction
Oct 05, 2011 (LBO) – Sri Lanka’s central bank has announced a 15 billion rupee reverse repo cash auction to inject liquidity which can stabilize spiking rates in the overnight market, dealers and analysts said. The reverse repo auction will help cap rates with the monetary authority acting as a central counter party, analysts said. […]
Sri Lanka overnight rates head higher amid peg defence
Oct 04, 2011 (LBO) – Sri Lanka’s short term interest rates are heading higher as liquidity tightens in money markets and policy contradictions in forex and money markets begin to bite, dealers said. The weighted average overnight rate in the repo market, where banks and primary dealers of Treasuries sell money to each other collateralized […]
Sri Lanka stocks end down 0.9-pct
Oct 04, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday with losses in shares that had been pushed up by speculators and a newly listed finance firm being heavily traded, brokers said. The ASPI is up 2.23 percent so far this year while most other regional markets were down. The main All Share Price […]