Sri Lanka rupee weaker, bond yields stable
Feb 26, 2019 17:33 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka's rupee closed slightly weaker at 179.85/95 to the US dollar on Tuesday, while bond yields were stable in a dull market and stocks fell 0.07 percent, dealers and brokers said.
The rupee closed at 179.65/75 to the US dollar on Monday.
Dealers said the bond market was mostly quiet on Tuesday, ahead of a bill auction tomorrow.
There was some activity in the morning session which led to yields easing off in mid-day trade, before selling interest pushed them back up to Monday's levels.
Market participants are awaiting for the central bank to inject liquidity into the banking system on March 01, as well as news on a sovereign bond issuance which is expected soon.
A bond maturing on 01.08.2021 was quoted at 10.80/86 percent at Tuesday's close, compared to 10.80/88 percent on Monday.
A bond maturing on 15.12.2023 quoted at 10.92/05 percent on Tuesday, with little change from yesterday.
A 7-year bond maturing 01.08.2026 was quoted at 11.20/25 percent, slightly up from 11.18/25 percent at Monday's close.
A bond maturing on 15.06.2027, quoted at 11.25/32 percent, was slightly up from Monday's 11.25/30 percent.
A bond maturing on 01.09.2028 quoted at 11.30/40 percent, flat from Monday.
At the Colombo Stock Exchange, the All Share Price Index was down 0.07 percent or 3.99 points to 5,822.27, while the more liquid stocks in the S&P SL20 Index were up 0.09 percent or 2.63 points to 2,980.46.
Market turnover was 262 million rupees. There was foreign buying interest, with net external inflows of 72.3 million rupees into the market.
Ceylon Tobacco Company weighed down the market, closing 22.50 rupees lower at 1,397.50 rupees per share.
Distilleries Company of Sri Lanka also held the market down, falling 50 cents to close at 15.50 rupees per share.
Commercial Bank share gained 1.90 rupees, closing at 107.90 rupees, and LOLC gained 3.70 rupees, reaching up to 93.80 rupees per share.
The All Share had gained in early morning trade, driven by negotiated trades on John Keells Hotels shares.
Overall, share prices of 68 companies gained during the day, while 57 fell. (Colombo/Feb26/2019-SB)