Tuesday November 20, 2018

Sri Lanka rupee ends weaker, stocks gain 0.43-pct

Jul 12, 2018 17:26 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - The Sri Lanka rupee closed weaker against the US dollar, as gilt yields eased on an 80 billion-rupee bond auction and stocks gained 0.43 percent on interest in Ceylon Tobacco and banking stocks, brokers and dealers said.

The rupee weakened to 159.35/50 rupees against the US dollar in the spot market on import demand, dealers said.

The US dollar closed at 159.25/35 rupees on Wednesday.

Gilt yields eased in the secondary market for government bonds.

A five-year bond maturing in 2023 closed at 10.35/43 percent in two-way quotes, down from 10.43/50 percent the previous day.

A ten-year bond maturing in 2028 closed at 10.63/76 percent, easing from 10.70/85 percent the previous day.

A Treasury bond auction was held to raise 80 billion rupees.

A seven-year bond maturing in 2025 for 35 billion rupees with a coupon rate of 10.35 percent was sold at an weighted average yield of 10.53 percent, the government debt office said.

A 14-year bond maturing in 2033 for 45 billion rupees with an 11.20 percent coupon rate was sold for 10.88 percent.

In equities, the Colombo All Share index closed 0.43 percent higher, gaining 26.15 points to 6,118.80, and the S&P SL20 of more liquid stocks gained 0.54 percent, up 18.01 points to 3,336.41.

Market turnover was 586 million rupees, up from the previous day's 461.6 million rupee turnover.

Ceylon Tobacco (up 19.40 rupees to 1,149.40 rupees), HNB (up 2.80 rupees to 223 rupees) and Commercial Bank (up 1.10 rupees to 128 rupees) contributed to the benchmark index gain during the day which saw 87 stocks gaining against 51 that declined.

Net foreign selling was 116.3 million rupees, up from 79.8 million rupees of selling the previous day.

Foreign selling in Ceylon Cold Stores was 131 million rupees, according to Asia Securities.

Ceylon Cold Stores closed 7.70 rupees higher at 920 rupees.

Foreign buying in John Keells Holdings was 36 million rupees. The share closed 50 cents lower at 141.50 rupees.

Off-market negotiated trades, or crossings, amounted to 295.4 million and was 50 percent of the day's turnover.

There was a crossing each of 130.8 million rupees in Ceylon Cold Stores, 90.9 million rupees in Commercial Bank and 73.6 million rupees in Hemas Holdings.

Hemas Holdings closed 1 rupee higher at 108 rupees. (COLOMBO, 12 July 2018)


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