Sri Lanka rupee closes firmer, bond yields gain

ECONOMYNEXT – Sri Lanka rupee closed firmer at 185.80/90 to US dollar in the spot market on Monday while bond yields and stocks gained at the market close, dealers and brokers said.

Rupee closed at 186.80/90 to the greenback on Friday.

In equities the Colombo’s All Share Price Index gained 0.49 percent or 25.00 points to end at 5,075.90.

The S&P SL20 index of more liquid stocks fell 10 percent or 2.19 points to 2,188.56.

The market turnover was 1.47 billion rupees with 85 stocks gaining and 58 falling.

Net foreign buying in the market was 82.3 million rupees.

Crossings or negotiated traded in Pirimal Glass, Hatton National Bank, Hemas Holdings, Renuka City Hotel and John Keells too contributed to the market turnover. Six crossings in HNB amounted to 153.7 million rupees while two crossings on Nations Trust Bankand John Keells amounted to 61 million rupees and 163 million rupees
respectively.

Ceylon Tobacco Company contributed most to the gain of ASPI, gaining 49.50 rupees to trade at 999.70 rupees a share.

Dialog Axiata shares traded 20 cents up at 11.40 rupees while LOLC Development Finance stocks gained 5.90 rupees to trade at 37.00 rupees a share, also contributing to the ASPI’s gain.

In the secondary government securities market, gilt yields were up from last week’s closing in moderate trading, dealers said.

Dealers said that high liquidity was seen in 15.01.2023 maturity.

A 2-year bond maturing on 15.12.2022 closed at 5.80/85 percent on Monday, up from 5.75/80 percent at Friday’s close.

A bond maturing on 15.01.2023 closed at 5.88/93 percent, unchanged from 5.88/93 percent at Friday’s close.

A bond maturing on 15.09.2024 closed at 6.40/50 percent, up from 6.40/45 percent at Friday’s closing.

A bond maturing on 01.05.2025 closed at 6.55/65 percent on Friday, up from 6.52/60 percent at Friday’s closing.

A bond maturing on 01.02.2026 closed at 6.73/83 percent, up from 6.70/78 percent.

A bond maturing on 15.10.2027 closed at 6.95/7.03 percent, up from 6.90/7.00 percent at Friday’s end. (Colombo/July06/2020)

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