Sri Lanka rupee ends firmer, bond yields flat

Rupee 03 July 2020

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

Rupee closed at 186.05/15 to the greenback on Thursday.

Liquidity in the overnight money market was 165.50 billion rupees on Friday, down from 173.32 billion rupees at the previous day’s end.

In equities the Colombo’s All Share Price Index fell 1.14 percent or 58.14 points to end at 5,050.90.

The S&P SL20 index of more liquid stocks fell 1.73 percent or 38.57 points to 2,190.75.

The market turnover was 1.48 billion rupees with 28 stocks gaining and 128 falling.

Net foreign buying in the market was 393 million rupees.

Crossings or negotiated traded in Commercial Bank and Hatton National Bank too contributed to the market turnover. Five crossings Commercial bank crossings amounted to 406.9 million rupees while two crossings on HNB amounted to 166 million rupees.

John Keells Holdings contributed most to the fall of ASPI, dropping 3.80 rupees to trade at 115.60 rupees a share.

Sampath Bank shares traded 2.90 rupees down at 122.10 rupees while CT Holdings stocks fell 5.00 rupees to trade at 139.50 rupees a share, also contributing to the ASPI’s plunge.

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 2024 maturity.

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

A bond maturing on 15.01.2023 closed at 5.88/93 percent, down from 5.90/95 percent at Thursday’s close.

A bond maturing on 15.09.2024 closed at 6.40/45 percent, down from 6.42/47 percent at yesterday’s closing.

A bond maturing on 01.05.2025 closed at 6.52/60 percent on Friday, down from 6.57/65 percent at yesterday’s closing.

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 closed at 6.90/7.00 percent, Unchanged from 6.90/7.00 percent at Thursday’s end. (Colombo/July03/2020)

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