Sri Lanka rupee opens weaker as gilt yields ease, stocks gain 0.13-pct
Jul 18, 2018 10:14 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – The Sri Lanka rupee opened weaker against the US dollar on Wednesday, as gilt yields eased and stocks gained 0.13 percent in early trading, brokers and dealers said.
Import demand continued to weaken the rupee against the US dollar with the currency opening Wednesday at 160.00/10 rupees against the US dollar in the spot market, dealers said.
The US dollar closed Tuesday at 159.90/160.00 rupees.
The secondary market for government bonds opened to active trading with gilt-yields easing lower.
Investors were expecting some direction regarding benchmark interest rates from the weekly Treasury bill auction today (Wednesday), dealers said.
A five-year bond maturing in 2023 was at 10.23/29 percent in two-way quotes in early trading, down from 10.30/37 percent the previous day's close.
A ten-year bond maturing in 2028 was quoted at 10.45/60 percent, down from 10.53/67 percent the previous day.
Sri Lanka equities opened 0.13 percent higher with the All Share index gaining 7.81 points in early trading to 6,187.69, and the S&P SL20 index of more liquid stocks gaining a marginal 0.05 percent up 1.67 points to 3,380.22.
Hayleys PLC gained 10 cents to 210 rupees. The group said it would raise 4 billion rupees via a debenture issue on 24 July.
John Keells Holdings was trading 1 rupee lower at 148 rupees.
Sampath Bank gained 20 cents to 296.90 rupees and Commercial Bank was unchanged at 126 rupees,
Teejay Lanka was up 50 cents to 32 rupees.
Ceylon Grain Elevators gained 1.60 rupees to 64 rupees and Laugfs Gas was down 10 cents to 19 rupees (COLOMBO, 18 July 2018)