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Sri Lanka rupee ends flat, gilt yields marginally up

ECONOMYNEXT – Sri Lanka rupee closed flat at 185.75/85 to US dollar in the spot market on Wednesday while bond yields picked up marginally and stocks fell, dealers said.

Rupee closed at 185.75/88 to the greenback on Tuesday.

In equities market, stocks fell 0.29 percent at the end of market trade today.

Colombo’s main All Share Price Index (ASPI) down 14.66 points to 5,019.79, provisional data showed.

The S&P SL20 index of more liquid stocks slipped 0.69 percent or 15.00 points to 2,158.61 on Wednesday.

The market turnover amounted to 788 million rupees with 53 stocks making gains while 77 made losses.

John Keells Holdings contributed most to the ASPI’s fall, down 1.70 rupees to trade at 1.70 rupees a share.

Carson Cumberbatch shares traded 9.80 rupees down at 155.00 rupees a share while Dialog Axiata stocks traded at 10 cents a share down by 11.30 rupees, also contributing to the ASPI’s fall.

In the secondary government securities market, gilt yields were up marginally up in moderate market trade, dealers said.

Sri Lanka’s debt office sold 35 billion rupees in a weekly auction today split in to 4.6 billion rupees maturing in 3-months, 6 billion rupees maturing in 6-months, and 25.5 billion rupees maturing in 12-months.

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Dealers said that high liquidity centered on 2023 maturity.

A 2-year bond maturing on 15.12.2022 closed at 5.42/50 percent on Wednesday, up from 5.40/45 percent at Tuesday’s close.

A bond maturing on 15.01.2023 closed at 5.47/55 percent up from 5.45/50 percent at Tuesday’s close.

A bond maturing on 15.09.2024 closed at 6.08/13 percent up from yesterday’s closing at 6.02/10 percent.

A bond maturing on 01.05.2025 closed at 6.32/40 percent on Wednesday, up from 6.27/35 percent at yesterday’s closing.

A bond maturing on 01.02.2026 closed at 6.45/52 percent, flat from yesterday’s closing.

A bond maturing on 15.10.2027 closed at 6.60/70 percent, up from 6.55/65 percent at Tuesday’s end. (Colombo/July22/2020)

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