Sri Lanka rupee, bond yields stable at close
Mar 14, 2019 17:55 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka's rupee was stable at 178.80/95 to the US dollar at Thursday's market close while bond yields were stable and stocks gained, dealers and brokers said.
The rupee had fallen to 178.85/00 to the US dollar Thursday morning before gaining slightly towards the afternoon.
The rupee closed at 178.80/90 to the US dollar in the spot market on Wednesday.
Dealers said there was some activity in the bond market, with yields hovering around the same levels as Wednesday.
Yields of longer term maturities were seen rising, as cutoff rates during the Tuesday bond auction were higher than expected, indicating that there were not enough buyers at lower rates, dealers said.
When rates go up, more buyers will come to the market.
Twelve-month bills closed at 10.50/57 percent Thursday, falling from Wednesday's close of 10.56/58 percent.
A bond maturing on 01.08.2021 closed at 10.70/76 percent on Thursday, falling slightly from 10.72/78 percent at Wednesday's close.
A bond maturing on 15.07.2023 closed at 10.95/05 percent on Thursday, higher than Wednesday's 10.90/00 percent.
A new 5-year bond maturing on 15.03.2024 ended at 11.08/13 percent, up slightly from Wednesday's close of 11.07/12 percent.
A bond maturing on 01.08.2026 ended at 11.15/25 percent today, stable from the previous close of 11.15/30 percent.
A bond maturing on 15.06.2027, closed at 11.28/38 percent on Thursday, up from 11.25/35 percent at Wednesday's close.
A bond maturing on 01.09.2028, closed at 11.35/45 percent on Thursday, up from the previous close of 11.30/40 percent.
A newly-issued bond maturing on 01.05.2029 closed at 11.47/52 percent, up from Wednesday's close of 11.45/50 percent.
At the Colombo Stock Exchange, the All Share Price Index closed 25.83 points higher at 5,632.79, after stocks retreated over the previous four days to a five-and-a-half-year low.
The more liquid stocks on the S&P SL20 Index closed 19.98 points higher at 2,771.28 on Thursday.
Market turnover was 677.7 million rupees, with 40.7 percent of the volumes coming from Nation's Trust Bank, mostly through negotiated deals.
There was high foreign participation, with a net outflow of 19 million rupees from the market.
Sri Lanka Telecom contributed most to the All Share gain, closing 1.50 rupees higher at 22.20 rupees per share, while John Keells Holdings share closed at 152 rupees, 1.90 rupees higher.
Commercial Bank closed 2 rupees higher at 99 rupees per share.
Meanwhile, Hemas Holdings closed 3.90 rupees lower at 76 rupees per share. (Colombo/Mar14/2019-SB)