Sri Lanka rupee ends firmer, gilt yields down

ECONOMYNEXT – Sri Lanka rupee closed stronger at 185.75/82 to US dollar in the spot market on Thursday while bond yields eased and stocks gained, dealers and brokers said.

Rupees closed at 185.80/90 to the US dollar on Wednesday.

In equities market, Sri Lanka stocks advanced 0.75 percent on Thursday, provisional data shows.

Colombo’s main All Share Price index (ASPI) climbed 36.85 points to 4,953.54.

The S&P SL20 index of more liquid stocks was up 1.46 percent or 30.68 points at 2,126.63.

Market turnover amounted to 567.7 million rupees with 115 stocks making gains while 29 stocks made losses.

Net foreign selling in the market amounted 123 million rupees.

Crossings or negotiated trade was witnessed in Commercial Bank counter amounting to 65 million rupees.

John Keells Holdings contributed mostly to ASPI’s gain trading at 109.90 rupees a share, up 2.40 rupees (2.23 percent).

Other stocks that contributed to ASPI’s gain were, Ceylon Cold Stores stocks profited 20 rupees to trade at 700.00 rupees a share while Commercial Bank of Ceylon stocks advanced 1.40 rupees to trade at 74.00 rupees a share.

In the secondary government securities market, gilt yields came down in moderate trading, dealers said.

Dealers said that 2023 to 2024 maturities were seen liquid in the market for the day.

A 2-year bond maturing on 15.12.2022 closed at 5.30/38 percent on Thursday, down from 5.42/48 percent at Wednesday’s close.

A bond maturing on 15.01.2023 closed at 5.37/45 percent, easing from 5.47/52 percent at Wednesday’s close.

A bond maturing on 15.09.2024 closed at 6.00/08 percent, down from 6.08/12 percent at yesterday’s closing.

A bond maturing on 01.05.2025 closed at 6.30/30 percent on Thursday, falling from 6.28/25 percent at Wednesday’s closing.

A bond maturing on 01.02.2026 closed at 6.38/43 percent, falling from 6.42/48 percent.

A bond maturing on 15.10.2027 closed at 6.55/65 percent, up from 6.57/67 percent at Wednesday’s end.

(Colombo/July16/2020)

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