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Sri Lanka rupee ends firmer, bond yields flat

ECONOMYNEXT – Sri Lanka rupee closed firmer at 186.05/15 to US dollar in the spot market on Thursday while bond yields were flat and stocks closed lower, dealers and brokers said.

Rupee closed at 186.15/25 to the greenback on Wednesday.

In equities the Colombo’s All Share Price Index fell 0.76 percent or 39.37 points to 5,109.04.

The S&P SL20 index of more liquid stocks fell 1.30 percent or 29.40 points to end at 2,229.32.

The market turnover was 1.56 billion rupees with 46 stocks gaining and 102 falling.

Negotiated trade or crossing in Commercial Bank and Hatton National Bank too contributed to the market turnover.

A single crossing in Commercial Bank amounted to 78 million rupees while three crossings were witnessed in HNB contributing 223.4 million rupees.

Net foreign selling amounted to 305.6 million rupees.

John Keells Holdings contributed most to the fall of ASPI, dropping 2.00 rupees to trade at 119.40 rupees a share.

Dialog Axiata shares traded 20 cents down at 11.20 rupees while Ceylon Tobacco stocks fell 9.20 rupees to trade at 950.00 rupees a share, also contributing to the ASPI’s plunge.

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In the secondary government securities market, gilt yields were flat 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 Thursday, down from 5.80/85 percent at Wednesday’s close.

A bond maturing on 15.01.2023 closed unchanged at 5.88/93 percent from the day earlier.

A bond maturing on 15.09.2024 closed at 6.42/47 percent, down from 6.40/47 percent at yesterday’s closing.

A bond maturing on 01.05.2025 closed at 6.55/65 percent on Thursday, sliding from 6.57/65 percent.

A bond maturing on 01.02.2026 closed at 6.70/80 percent, stable from 6.70/78 percent.

A bond maturing on 15.10.2027 was quoted at 6.90/7.00 percent, easing from 6.90/98 percent at Wednesday’s end.

(Colombo/July02/2020)

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