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Sri Lanka rupee closes flat, stocks decline

ECONOMYEXT – Sri Lanka rupee closed flat at 185.72/77 to US dollar in the spot market on Wednesday while bond yields were unchanged and stocks fell, dealers said.

Rupee closed at 185.73/78 to the greenback on Tuesday.

Liquidity in the overnight money market 135.71 billion rupees up from 123.00 billion rupees at yesterday’s closing.

Banks deposited 135.71 billion rupees in Central Bank’s excess liquidity window.

In equities, Sri Lanka stocks fell 0.11 percent at the end of market trade.

Colombo’s main All Share Price Index (ASPI) declined 5.42 points to 5,094.00, provisional data showed.

The S&P SL20 index of more liquid stocks slipped 0.38 percent or 8.34 points to 2,163.09.

Market turnover amounted to 829.8 million rupees with 75 stocks making gains and 81stocks making losses.

C T Holdings dragged the ASPI down, trading at 139.30 rupees a share, down by 15.70 rupees.

Dialog Axiata shares slipped 20 cents to trade at 11.10 rupees a share while John Keells Holdings stocks traded 50 cents down at 111.40 rupees a share, also contributing to the ASPI’s fall.

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In the secondary government securities market, gilt yields closed flat in moderate market trade, dealers said.

A 2-year bond maturing on 15.12.2022 closed at 5.68/72 percent on Wednesday, up from 5.65/72 percent at Tuesday’s close.

A bond maturing on 15.01.2023 closed at 5.70/75 percent up from 5.68/75 percent at Tuesday’s close.

A bond maturing on 15.09.2024 closed at 6.18/28 percent down from Tuesday’s closing at 6.20/27 percent.

A bond maturing on 01.05.2025 closed at 6.43/48 percent on Wednesday, edging up from 6.42/50 percent at yesterday’s closing.

A bond maturing on 01.02.2026 closed at 6.50/55 percent, down from 6.52/57 from the previous close.

A bond maturing on 15.10.2027 closed at 6.93/7.03 percent, up from 6.90/7.00 percent from Tuesday’s end.

A 10-year bond maturing on 15.05.2030 closed at 7.28/35 percent, up from 7.25/35 percent on Tuesday’s closing.
(Colombo/July29/2020)