Sri Lanka bond yields down after rate cut, rupee quoted weaker

ECONOMYNEXT – Sri Lanka’s bond yields fell after the central bank cut its policy corridor 50 basis points to 7.50 percent and 6.50 percent meanwhile rupee quoted weaker at open 181.50/65 to the US dollar on the spot market and stocks gained 0.02 percent, dealers said.

The rupee closed at 181.45/55 to the greenback on Wednesday.

Sri Lanka’s debt office is also offering 15 billion treasury bonds at 9.85 percent maturing on 15.09.2024 and 17.5 billion rupees at 10.30 percent maturing on 15.10.27.

In the secondary market, gilt rates were down around 30 basis points on liquid maturities.

The one-year Treasury bill fell to 8.20/30 percent levels from 8.55/60 a day earlier dealer said.

A bond maturing on 01.09.2023 was quoted at 8.95/9.05 percent down Thursday from yesterday close of 9.18/25 percent.

A bond maturing on 15.09.2024 closed was quoted at 9.17/24 percent down from at 9.45/50 percent.

A bond maturing on 15.10.2027 was quoted at 9.45/60 percent down from 9.60/70 percent a day earlier.

In equities, Colombo’s All Share Price Index (ASPI) gained 1.40 points to 5,937.70 and the S&P SL20 Index of more liquid stocks up 0.47 percent or 13.24 points to 2,843.44.

The market turnover was 106.7 million rupees while 26 stocks gained, and 35 stocks fell.

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Dialog Axiata stocks up 20 cents to 12.50 rupees a share, John Keells Holdings gained 50 cents to 161.50 rupees a share and Hatton National Bank stocks up 2.00 rupees to 162.00 rupees a share, contributing to ASPI’s gain. (Colombo/Jan30/2020)

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