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Rupee Gains 0.6%, Liquidity Declines 31% The rupee strengthened by 75 Sri Lanka cents (SLc), ie by 0.6% to Rs. 126/65 in interbank spot trading against the US dollar ($) as at Friday (March 8) week on week (WOW), but on the flip side market’s excess liquidity declined at a much faster rate, by 30.6% [...]
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Executive Director andChief Investment Officer of NAMAL, Avancka Herat The NAMAL Acuity Value Fund (NAVF) managed by National Asset Management Limited (NAMAL), the only listed Fund on Colombo Stock Exchange, reported sharp increase in earnings for the nine months ending December 31, 2012. The Fund’s gross income rose by 94% YoY to Rs. 45.8M and [...]
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The reverberations caused by the “loss” of the new IMF facility were felt across the foreign exchange (forex), government securities and stock markets last week, with the exchange rate (ER) last week, having had fallen by 82 Sri Lanka cents (SLc)-0.65%, yields of the “shorter” Treasury (T) Bond and T Bill market having had expanded [...]
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TFC CEO / directorPreethi Jayawardena and TFC Chairman Kamal Yatawara The Finance Company PLC (TFC), the country ‘s pioneer financial giant, has taken many initiatives to improve its business areas, recording higher volume growths in third quarter2012/13 despite the challenges caused by the high interest regime and tight liquidity prevalent in the market, a press [...]
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Sees Rs. 453.4 Million Net Foreign Outflow The market is dominated by foreign selling, institutional and high networth activity and retailers staying away from the market. That’s how a market source described the bourse to this reporter on Thursday. The bourse in the calendar year to date has suffered a Rs. 453.4 million net foreign [...]
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Secondary Market Trading In T Bills & Bonds Yields across the board increased by between 5-10 basis points (bps) in secondary market Treasury (T) Bond and Bills trading on Monday and was repeated the following day Tuesday and Wednesday as well (before it was stopped by a seeming aberration on Thursday-see page 34), a continuing [...]
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The bourse on a nominal Rs. 454.2 million turnover, saw the benchmark ASPI gain by 0.25% and the S&P SL 20 Index by 0.4% over the previous day’s close to finish last week at 5,746.49 and 3,133.87 points respectively, stock market data showed. The bourse since the beginning of this year to date (Friday), has [...]
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Left to right: Kapila Jayawardena and Ishara Nanayakkara and Ishara Nanayakkara In a little over a decade, a small company has been transformed to a veritable conglomerate, boosted over the last three years by the benefits of an islandwide peace dividend. At the helm of this remarkable group is Ishara Nannayakara, Deputy Chairman of the [...]
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Move To Correct Distortion In Yield Curve Central Bank of Sri Lanka (CBSL) implemented new regulations on Friday, limiting foreign investments on new issues of Treasury (T) Bonds to those which are of tenures of five years and above only, a market source told this newspaper. This is to correct the distortion in the yield [...]
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In the absence of Central Bank of Sri Lanka (CBSL) not making an attempt to cap interest rates, Government of Sri Lanka’s (GoSL’s) strategy to fuel growth appears to be by easing policy rates and pumping liquidity through its reverse repo facilities at the expense of creating demand side inflationary pressure on the economy. A [...]
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The bourse on a mix of foreign selling on Hatton National Bank plc and foreign buying and selling on blue chip John keels Holdings plc witnessed a Rs. 418.33 million net foreign inflow (NFI) on Friday, wiping the deficit of a Rs. 122.58 million net foreign outflow (NFO) which it had previously witnessed in the [...]
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Central Bank of Sri Lanka (CBSL) on a net basis has had contracted its Treasury (T) Bill holdings by a marginal Rs. 2,367.05 million to Rs. 210,946.03 million last week, on a week on week basis, signifying that it has retired a small part of its T Bill stock (ie those which matured or at [...]
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