Sri Lanka rupee, stocks open steady; bond yields up
Apr 26, 2019 10:26 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – The Sri Lanka rupee opened steady at 175.00/50 rupees to the US dollar in the spot market on Friday, as bond yields edged higher and stocks were steady amidst selling interest in banking stocks, market participants said.
The rupee had closed at the same levels the previous day with not much activity seen in early trading, market participants said.
In equities, Colombo’s All Share fell 0.07 percent in early trading, down 3.53 points to 5,419.36 while the S&P SL20 index of more liquid stocks gained 0.39 percent, up 10.06 points to 2,601.24.
Turnover was at 127.9 million rupees with 4 stocks gaining and 15 stocks declining.
Amana Bank (down 20 cents to 2.60 rupees), Sampath Bank (down 30 cents to 154.70 rupees) contributed to the index decline.
Gilt yields opened to wider spreads in the secondary bond market. Activity was mute due to a 120 billion rupees bond auction next Monday.
A bond maturing in 2021 was quoted wide at 10.35/50 percent in two-way quotes, up from 10.32/38 percent the previous close.
A bond maturing in 2022 was quoted at 10.60/70 percent, up from 10.45/55 percent the previous day.
The 2024 bond was at 10.91/11.05 percent, up from the previous closing of 10.90/95 percent.
A ten-year bond maturing in 2029 was quoted at 11.20/30 percent, unchanged from the previous close. (COLOMBO, 26 April 2019-SB)