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Sri Lanka rupee closes firmer, gilt yields ease

ECONOMYNEXT – Sri Lanka rupee was closed firmer at 186.15/25 to US dollar in the spot market on Wednesday while bond yields eased and stocks closed lower, dealers and brokers said.

Rupee closed at 186.20/30 to the greenback on Tuesday.

In equities the Colombo’s All Share Price Index fell 0.02 percent or 1.16 points to 5,148.41.

The S&P SL20 index of more liquid stocks fell 0.44 percent or 10.05 points to close at 2,258.72.

The market turnover was 1.095 billion rupees with 79 stocks gaining and 56 falling.

Sri Lanka Cargills (Ceylon) contributed most to the fall of ASPI, closing 8.40 rupees lower at 185.10 rupees a share.

Dialog Axiata shares traded 20 cents down at 11.40 rupees while John Keels Holdings stocks fell 1.10 rupees to trade at 121.40 rupees a share, also contributing to the ASPI’s plunge.

In the secondary government securities market, gilt yields eased from yesterday’s closing in moderate trading, dealers said.

Dealers said that high liquidity was seen in 2022 to 2027 maturities.

A 2-year bond maturing on 15.12.2022 closed at 5.80/85 percent on Wednesday, stable from 5.80/90 percent at Tuesday’s close.

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A bond maturing on 15.01.2023 closed on 5.88/93 percent, falling from a day earlier.

A bond maturing on 15.09.2024 closed at 6.40/45 percent, easing from 6.45/55 percent.

A bond maturing on 01.05.2025 closed at 6.57/65 percent on Wednesday, sliding from 6.58/68 percent.

A bond maturing on 01.02.2026 closed at 6.70/78 percent, down from 6.80/70 percent.

A bond maturing on 15.10.2027 closed at 6.90/98 percent, easing from 6.95/7.05 percent at Tuesday’s end.

(Colombo/July01/2020)

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