Sri Lanka rupee opens weaker, bond yields ease
May 16, 2019 12:23 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka rupee opened weaker at 176.25/35 to the US dollar in the spot market on Thursday, while gilt yields eased and stocks were trading 0.61 percent higher in mid-day trade, market participants said.
The currency closed stronger at 176.20/30 to the greenback on Wednesday.
The rupee had gained on Wednesday compared to where it ended on Tuesday on 176.80/90 rupees against the US dollar.
The rupee was trading at 176.30/40 to the US dollar on Thursday mid-morning, dealers said.
Gilt yields were seen easing in mixed market trading. Foreign buying was seen on the 2022, 2023 and 2024 bonds, dealers said.
A bond maturing on 15.10.2021 was quoted at 9.85/95, up from the previous closing of 9.80/90 percent.
A bond maturing on 15.03.2022 was quoted at 10.00/10, gaining from 9.90/00 percent.
A bond maturing on 15.03.2023 was quoted at 10.30/35 percent, easing from 10.33/40 percent.
A bond maturing on 15.03.2024 was quoted at 10.40/45 percent, stable from the previous closing of 10.40/47 percent.
A bond maturing on 15.01.2027 was quoted at 10.70/75 percent, easing from Wednesday's 10.72/78 percent.
A bond maturing on 01.05.2029 was quoted at 10.85/95 percent, up from 10.83/90 percent.
In equities, Colombo's All Share Index was up 0.92 percent or 47.91 points to 5,247.84 in the morning session, gaining steadily.
The S&P SL20 Index of more liquid stocks was up 0.61 percent or 14.78 points to 2,456.18.
Market turnover was 342.3 million rupees with 73 stocks gaining and 27 falling.
Ceylon Tobacco Company, which announced a profit growth for the March quarter, was trading 33.90 rupees up at 1,340 rupees a share, contributing most to the All Share gain.
Ceylon Cold Stores was trading 39.30 rupees up at 600 rupees a share and John Keells Holdings (JKH) was trading 1.50 rupees up at 137 rupees a share, also pushing up the benchmark index.
JKH accounted for 78.5 percent of the turnover for the session.