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Weekly Govt Securities Market: 1-Year bill yield rises to nearly two months high

By First Capital Research

Weekly Yield Movement & Volume

The secondary market yield curve witnessed a slight upward shift mainly in the short to mid tenor maturities while the long end remained broadly unchanged. 

The market witnessed mixed activities during the week, with moderate volumes while activities were mainly centred on 2023, 2024, and 2027 maturities.

At the weekly Treasury Bill auction held on 7 January, the three-month bill declined to 7.50 per cent, while the six-month bill and one-year witnessed an increase of 11bps and 7bps, respectively, to 8.13 per cent and 8.52 per cent.

Furthermore, CBSL announced an issue of Rs 30.0 billion worth of Treasury Bonds through an auction to be held on 13 January 2020 and Rs 25.0 billion worth of Treasury Bills through the bill auction to be held on 14 January 2020.

Meanwhile, in the forex market, the rupee witnessed a depreciation to close the week at Rs 181.57 from Rs 181.30 held at the beginning of the week.

Liquidity & CBSL Holdings

Volatility in liquidity was witnessed, although it remained positive during the week. The lowest excess liquidity for the week was recorded on 2 January, amounting to Rs 27.7 billion and witnessed a gradual improvement towards the end of the week to Rs 40.5 billion on 8 January 2020. Meanwhile, CBSL holdings slightly declined to close the week at Rs 69.5 billion.

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and stock market forecast – 12.01.2020. #CSE #CBSL #lka

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and stock market forecast.

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Dimantha Mathew, Head of Research at First Capital commenting on the Sri Lankan stock market performance amidst the US-Iran tensions – 08.01.2020. #CSE #CBSL #lka

Dimantha Mathew, Head of Research at First Capital commenting on the Sri Lankan stock market performance amidst the US-Iran tensions.

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and stock market performance – 07.12.2019. #CSE #CBSL #lka

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and stock market performance.

“The secondary market witnessed mixed activity while foreign buying was primarily centered on 2024 maturities. Equity market concluded the day in red persisting the negative sentiment for the second consecutive trading session, attributable to the price losses in LOLC and DIST……..”

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Nisansala Kuruppumudali, Research Analyst at First Capital commenting on the bond and stock market performance – 06.12.2019. #CSE #CBSL #lka

Nisansala Kuruppumudali, Research Analyst at First Capital commenting on the bond and stock market performance.

“Commencing the week, in the bond market the secondary market yield curve shifted slightly upwards with selling interest mainly centered on 2024 maturities. In the equity market bourse ended in red on the price losses made in JKH and HNB…….”

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Atchuthan Srirangan, at First Capital on the bond & stock market forecast-05.12.2019 #CSE #CBSL #lka

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and stock market forecast.

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Dimantha Mathew, Head of Research at First Capital giving a special comment to News 1st: Prime Time Sinhala News on the loan repayment in 2020 – 7 PM | (31-12-2019)

Dimantha Mathew, Head of Research at First Capital giving a special comment to News 1st: Prime Time Sinhala News on the loan repayment in 2020 – 7 PM | (31-12-2019).

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Nisansala kuruppumudali, Research Analyst at First Capital commenting on the bond and stock market performance – 31.12.2019

Nisansala kuruppumudali, Research Analyst at First Capital commenting on the bond and stock market performance.

“Ending the year on a positive note the secondary market witnessed buying interest while the yield curve shifted downwards. In the equity market bourse ended in red on the price losses made in CLC and SAMP…. ”

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Nisansala kuruppumudali, Research Analyst at First Capital commenting on the bond and stock market performance – 30.12.2019

Nisansala kuruppumudali, Research Analyst at First Capital commenting on the bond and stock market performance.

“The secondary market yield curve witnessed a slight downward shift mainly in the mid tenor maturities. Bourse closed the day on a mixed note mainly on the price gains made by LOLC and CLC… ”

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.