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Foreign Investment in Sri Lanka’s Rupee Bonds Reaches Highest Level in Nearly Three Years with US$97 Million Purchase
FINANCIAL CHRONICLE – As of the week concluding on July 9, foreign investments in Sri Lankan rupee-denominated bonds reached their highest level in nearly three years. This surge occurred as international investors purchased government securities amounting to a net total of US$97.1 million, according to data from the Central Bank. The notable increase in foreign…
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Sri Lanka Raises Additional Rs10bn Through Treasury Bill Sales Following Auction
FINANCIAL CHRONICLE – Sri Lanka has successfully auctioned treasury bills worth 10 billion rupees at average interest rates of 10.21% and 10.30%, according to the public debt management office. This sale has contributed to a cumulative total of 110 billion rupees in treasury bills sold during the week. The overall subscription for these bills reached…
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Arcasia and ATX Initiate Voluntary Bid Following Acquisition of 50% Stake in Industrial Asphalts for 40 Cents
FINANCIAL CHRONICLE – Arcasia Investment & Trading along with ATX Partners have finalized an agreement to acquire a significant portion of shares in Industrial Asphalts (Ceylon), totaling 1,880,693,010 shares, which represents a 50.16 percent ownership stake. The shares will be purchased at a price of 40 cents each, as indicated in a recent market announcement.…
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Sri Lankan Rupee Settles at 335.70/90 Against the US Dollar, Bond Yields Remain Steady
FINANCIAL CHRONICLE – On Friday, the Sri Lankan rupee appreciated slightly against the US dollar, closing at 335.70/90 in the spot market, compared to the previous day’s rate of 336.00/60, according to market dealers. In the bond market, yields remained stable. A bond set to mature on September 15, 2027, ended the day flat at…
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Sri Lanka’s Stock Market Rebounds This Week Following Prolonged Decline
FINANCIAL CHRONICLE – The Colombo Stock Exchange in Sri Lanka experienced a positive closure on Friday, breaking a streak of weekly declines that resulted in a loss of 405.48 points since the previous Friday, according to data from the CSE. For the week, the market recorded a decline of 1.83 percent. The All Share Price…
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Sri Lanka’s Stock Market Rebounds Following Recent Decline
FINANCIAL CHRONICLE – The Colombo Stock Exchange in Sri Lanka experienced a rebound on Friday afternoon following a decline earlier in the week, according to data from the CSE. The All Share Price Index (ASPI) increased by 0.32 percent, gaining 70.48 points to reach 21,768.20, while the S&P SL200 also rose by 0.36 percent, up…
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Fitch Assigns A(lka) Rating to Sampath Bank’s ₹10 Billion Green Bond
Sri Lanka’s Sampath Bank has received a final National Long-Term Rating of ‘A(lka)’ for its proposed green bond issuance of 10 billion rupees from Fitch Ratings. This rating is two levels lower than the bank’s primary rating of AA-(lka). Fitch Ratings indicated that this rating reflects their assessment of potential loss severity associated with such…
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Sri Lanka’s Stock Market Dips Amidst Rising Tensions Impacting Economic Growth
FINANCIAL CHRONICLE – The Colombo Stock Exchange in Sri Lanka experienced a decline on Thursday, according to data from the CSE, with the benchmark All Share Price Index (ASPI) decreasing by 0.60 percent. Raynal Wickremeratne, the Head of Research and Strategy at NDB Securities, noted that investor sentiment has soured significantly due to escalating conflicts…
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Sri Lanka’s Stock Market Declines as HNB Finance Debuts Shares from Recent Rights Offering
FINANCIAL CHRONICLE – On Thursday afternoon, the Colombo Stock Exchange in Sri Lanka exhibited a downward trend, as indicated by CSE data, with the benchmark All Share Price Index (ASPI) declining by 0.49 percent. Specifically, the ASPI fell by 107.58 points, settling at 21,720.92. In contrast, the more actively traded S&P SL20 index experienced a…
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Sri Lankan Rupee Trades at 336.65/75 Against the US Dollar, While Bond Yields Increase
FINANCIAL CHRONICLE – On Thursday, the Sri Lankan rupee was traded at a rate of 336.65/75 against the US dollar in the spot market, reflecting a decline from the previous day’s rate of 336.00/30. Additionally, bond yields experienced an increase, according to market dealers. In terms of telegraphic transfer rates, the rupee was valued at…
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Sri Lanka Maintains Steady Treasury Bill Yields with Rs100 Billion in Sales
FINANCIAL CHRONICLE – In the latest auction held on Wednesday, yields on Sri Lanka’s Treasury bills remained largely stable, according to data from the Public Debt Management Office. The government successfully sold the entire 100 billion rupees in bills that were up for grabs. The yield on the 3-month Treasury bill experienced a slight decline,…
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Sri Lanka’s Stock Market Declines, Driven by Strong Activity in Capital Goods Sector
FINANCIAL CHRONICLE – The Colombo Stock Exchange in Sri Lanka experienced a decline in trading on Wednesday, according to data from the CSE, with the benchmark All Share Price Index (ASPI) falling by 0.61 percent. The ASPI decreased by 133.80 points, closing at 21,828.50. In addition, the more actively traded S&P SL20 index also saw…
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Fitch Assigns ‘A(lka)’ Rating to Sri Lanka Commercial Bank’s Rs20 Billion Debenture
FINANCIAL CHRONICLE – The Commercial Bank of Ceylon, a prominent financial institution in Sri Lanka, has received a final National Long-Term Rating of A(lka) for its planned debenture issue valued at 20 billion rupees, as confirmed by Fitch Ratings. This rating is positioned two notches below the bank’s National Long-Term Rating baseline. Fitch elaborated that…
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Sri Lanka’s Industrial Asphalts Divests 48.03% Stake to Arcasia and ATX
FINANCIAL CHRONICLE – Industrial Asphalts (Ceylon) of Sri Lanka has completed the sale of 1,800,693,010 shares, which constitutes a majority holding of 48.03 percent, to Arcasia Investment & Trading and ATX Partners. These shares were previously owned by Executive Director Govindasamy Ramanan. The transaction was finalized on July 7, as noted in a recent market…
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Sri Lankan Rupee Trades at 335.50/90 Against the US Dollar, While Bond Yields Experience an Increase
FINANCIAL CHRONICLE – On Wednesday, the Sri Lankan rupee was valued at 335.50/90 against the US dollar in the spot market, an increase from the previous day’s rate of 334.75/85, according to market dealers. For telegraphic transfers, the rupee was priced at 330.50 for buying and 339.50 for selling against the US dollar. In relation…