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Sri Lanka rupee ends flat, gilt yields unchanged

ECONOMYNEXT – Sri Lanka rupee closed flat at 185.75/80 to US dollar in the spot market on Friday while bond yields remained unchanged and stocks gained, dealers and brokers said.

Rupees closed at 185.75/82 to the US dollar on Thursday.

The liquidity in the overnight money market was 158.84 billion rupees.

In equities market, Sri Lanka stocks market continued to make gains for the second day, advancing 0.71 percent on Friday, provisional data showed.

First Capital Research said in its reports that investor confidence revived with the decrease in the number of new COVID-19 cases from the third cluster found in a rehabilitation center in Kandakadu.

Colombo’s main All Share Price index (ASPI) climbed 34.96 points to 4,988.50.

The S&P SL20 index of more liquid stocks was up 1.26 percent or 26.87 points at 2,153.50.

Market turnover amounted to 932 million rupees with 108 stocks making gains while 31 stocks made losses.

The banking sector continued to make gains contributing 61 percent to the market turnover.

Foreign investors continued on the selling side. Since the market opened after the COVID lockdowns from May 11 till July 17, total foreign selling in the market totaled 15 billion rupees.

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John Keells Holdings contributed most to ASPI’s gain trading at 111.40 rupees a share, up 1.50 rupees (1.36 percent).

Ceylon Tobacco Corporation stocks profited 8.80 rupees to trade at 949.00 rupees a share while Hatton National Bank stocks advanced 3.20 rupees to trade at 110.00 rupees a share.

In the secondary government securities market, gilt yields remained unchanged in moderate trading, dealers said.

Dealers said that 2025 maturities were seen liquid in the market for the day.

A 2-year bond maturing on 15.12.2022 closed at 5.32/37 percent on Friday, up from 5.30/38 percent at Thursday’s close.

A bond maturing on 15.01.2023 closed at 5.37/43 percent, flat from 5.37/45 percent at Thursday’s close.

A bond maturing on 15.09.2024 closed at 6.00/05 percent, unchanged from 6.00/08 percent at yesterday’s closing.

A bond maturing on 01.05.2025 closed at 6.22/27 percent on Friday, up from 6.00/08 percent at Thursday’s closing.

A bond maturing on 01.02.2026 closed at 6.38/43 percent, unchanged from 6.38/43 percent at Thursday’s close.

A bond maturing on 15.10.2027 closed at 6.55/63 percent, flat from 6.55/65 percent at Thursday’s end.

(Colombo/July17/2020)

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