Sri Lanka rupee closes weaker, stocks fall

ECONOMYNEXT – Sri Lanka’s rupee closed slightly weaker at 178.15/25 to the US dollar in the spot market after opening at 178.10/15 to the US dollar Monday morning, while bond yields were stable and stocks fell 0.19 percent, brokers and dealers said.  

 The rupee closed at 178.00/15 to the US dollar in the spot market on Friday.
 
At the Colombo Stock Exchange, the All Share Price Index closed 10.38 points lower at 5,529.67, continuing a retreat seen since last Tuesday.
 
First Capital Holdings’ brokerage said the All Share reached an intra-day high of 5,543 in the morning session, before turning volatile and falling towards the latter part of the day.
 
The more liquid S&P SL20 Index closed 7.34 points lower at 2,717.60.
 
Market turnover was 268.5 million rupees.
 
There was high foreign participation with a net outflow of 53.9 million rupees from the market, First Capital said.
 
The All Share was weighed down by Asiri Hospital Holdings which closed 1.40 rupees lower at 20.10 rupees per share, Cargills (Ceylon) which closed 4.50 rupees lower at 195.50 rupees and Sri Lanka Telecom which ended trading 60 cents lower at 22.10 rupees per share.
 
John Keells Holdings was the most traded, generating a turnover of 74 million rupees, and closing 50 cents lower at 150 rupees per share.
 
Dealers said the bond market was dull on Monday with limited trading, while yields were mostly stable, with upward pressure on some maturities.
 
The Central Bank’s decision to move a Treasury Bond auction a week earlier to April 2 has seen slight selling interest, dealers said.
 
Twelve month bills closed at 10.35/45 percent on Monday, unchanged from Friday.
 
A bond maturing on 01.08.2021 closed at 10.65/75 percent, slightly higher than 10.63/66 percent.
 
A bond maturing on 15.07.2023 closed at 10.85/95 percent, easing from 10.87/95 percent.
 
A 5-year bond maturing on 15.03.2024 closed at 11.00/05 percent on Monday,  stable from Friday’s close of 11.00/03 percent.
 
A bond maturing on 01.08.2026 closed at 11.10/20 percent, up from the previous close of 11.05/12 percent.
 
A bond maturing on 15.06.2027 closed 11.25/35 percent, up from 11.20/30 percent.
 
A bond maturing on 01.09.2028  closed at 11.30/40 percent, stable from the previous 11.30/50 percent. 
 
A bond maturing on 01.05.2029 closed at 11.40/45 percent, unchanged from Friday.  (Colombo/Mar25/2019-SB)